Financial Industry CLE & CPE

The need for banks and other financial institutions to design their Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) compliance program is paramount to mitigate financing risks and, most importantly, ensure conformity with the heightening BSA/AML regulations. Adopting a risk-based approach that focuses on detection and mitigation measures from potential illicit financial transactions is at the core to avoid hefty fines and legal liabilities. Moreover, banks and financial institutions must keep themselves abreast with emerging regulatory developments to avoid pitfalls.

In this LIVE Webcast, a panel of thought leaders and professionals brought together by The Knowledge Group will provide and present an in-depth analysis of the fundamentals as well as recent developments in FINRA’s 2022 Priorities: Significant Changes and Emerging Issues Affecting Your Compliance Program. Speakers will also present all important issues surrounding this significant topic. Join us for this Knowledge Group Webinar!

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) continues to administer and enforce strict scrutiny on U.S. and non-U.S. companies. Several settlement agreements have been noted in the past months that signal the broad reach of U.S. sanctions regulations.

The growing market participation in digital asset transactions further drives governmental scrutiny, particularly in anti-money laundering enforcement involving cryptocurrencies.

The Financial Crime Enforcement Network (FinCEN) is continuously expanding its efforts to streamline, modernize, and update anti-money laundering (AML) and anti-terrorism financing regulations.

In response to a prevailing view that the US was becoming a haven for money laundering, as well as emerging risks posed by advances in financial technology and the advent of virtual currencies,

Staying compliant with the evolving regulatory landscape of Anti-Money Laundering (AML) and the Bank Secrecy Act (BSA) has always been challenging. With the passage of the National Defense Authorization Act (NDAA) for the fiscal year 2021, increased scrutiny and heightened penalties are expected. Amidst these changes, financial institutions also grapple with imminent credit and liquidity risks which, if not mitigated, could significantly affect operations and revenue.

Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations have evidently evolved with the onset of the pandemic. With several authorities reconsidering their existing laws in response to the increasing criminal activities and emerging risks, the AML/KYC regulatory landscape and its already intricate compliance environment have become more active and complex than ever.

The FINRA arbitration and enforcement landscape has been continuously reshaped with rule changes as well as complications due to Covid-19 restrictions and the resulting change to remote work. Thus, all affected professionals must keep themselves abreast of the emerging updates in this space.

In December 2020, the Financial Industry Regulatory Authority (FINRA) Board of Governors approved filing to the Securities and Exchange Commission (SEC) its proposed changes to the continuing education (CE) program under FINRA Rules 1210 and 1240.

The anti-money laundering (AML) due diligence and compliance landscape continue to heighten with the passing of the Anti-Money Laundering Act of 2020 (AMLA). The AMLA, which is regarded as the most crucial AML legislation to date, was designed to modernize the anti-money laundering policy in the U.S. It also aims to strengthen the current financial system, improve government coordination, and streamline AML compliance obligations.

The damaging effects of money laundering continue to be a global threat today. Not only do they pose risks to economic stability and the overall financial system, but they also constitute significant threats to national security.

Devising and implementing effective anti-money laundering (AML) compliance programs have always been tricky and challenging. With the rising number of AML violations and the stiffer penalties from recent enforcement actions, businesses and organizations are urged to better assess their existing practices and ensure that these are compliant with the current enforcement priorities.

Broker-dealer regulations remain to be evolving and challenging. Scrutiny of anti-money laundering (AML) programs continues to be a top priority, as the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) bring significant AML-related enforcement actions against member firms. Other challenges that confront legal and compliance practitioners include the intensified standard of conduct rules governing investment recommendations to retail clients and the emerging forms of trading platforms.