Long Live the FCPA!(?)
President Trump pulled out his black sharpie and tried to kill the Foreign Corrupt Practices Act. The President’s executive order on February 10 stated: “Current FCPA enforcement impedes the United States’ foreign policy objectives and therefore
Brinks just paid a $37 million fine for willful violations of the Ban Secrecy Act. As a result of Brink’s failures, hundreds of millions of dollars in bulk currency shipments were transmitted across the Mexican border. Some of these shipments
The Financial Crimes Enforcement Network filed its appeal to a ruling issued by Texas District Judge Jeremy Kernodle in the Samantha Smith v. FinCEN case that still blocks the implementation of the Corporate Transparency Act.
The Supreme Court ruled in
The tenure of Gary Gensler as Chair of the Securities and Exchange Commission coincided with the rapid rise and then fall of crypto. Acting Chairman Mark T. Uyeda started his sure-to-be brief tenure by launching a crypto task force “dedicated
The Institutional Limited Partners Association released updates to its ILPA Reporting Template and a new ILPA Performance Template. The goal is to enhance standardization, transparency and comparability in reporting across geographies for private funds.
ILPA hosted a webinar discussing the
A Minnesota court threw out an expert statement because it was generated by AI and included fake references. The case involved a Minnesota Stat. § 609.771 that bans people from using deepfake media to influence elections.
Jeff Hancock, a misinformation
This year is Anti-Money Laundering year for registered investment advisers. FinCEN promulgated the Investment Adviser Rule. With the Bank Secrecy Act now applicable to registered investment advisers, with a compliance deadline for January 1, 2026, fund managers and advisers
The Securities and Exchange Commission and the Commodity Futures Trading Commission extended the compliance date for the February 8, 2024 amendments to Form PF. The compliance date for these amendments was originally March 12, 2025 and has now been extended
LPL Financial LLC, a dually registered investment adviser and broker-dealer, failed to follow its own anti-money laundering policies and procedures regarding its Customer Identification Program and ongoing customer due diligence obligations. The Securities and Exchange Commission and LPL settled on
Robinhood experienced massive growth during the pandemic. It had had 5.1 million cumulative net funded accounts by the end of 2019, 12.5 million cumulative net funded accounts by the end of 2020, and 22.7 million cumulative net funded accounts by