The Financial Crimes Enforcement Network has been busy lately, and has issued a flurry of proposed rulemakings and requests for comment. Although “reform” is often in the eye of the beholder, all of these proposals will have a practical impact.
As part of Ballard Spahr’s webcast series, Consumer Financial Services in Turbulent Times, we will present a webinar on these developments on Friday, December 11, 2020 from 10:00 a.m. to 11 a.m. ET. The webinar, entitled The Future of the Bank Secrecy Act: Regulatory Developments and Reform, will discuss:
- An advanced notice of proposed rulemaking on regulatory amendments regarding “effective and reasonably designed” AML programs;
- A request for comment on existing regulations regarding due diligence for correspondent bank accounts;
- The final rule extending BSA/AML regulatory requirements to banks lacking a Federal functional regulator; and
- A request for comment on a proposed rule that would expand significantly the “Recordkeeping Rule” and “Travel Rule” under the BSA.
To register, please click here.