In the European Banking Authority’s (EBA) new Guidelines on Internal Governance the aim is to enhance and consolidate supervisory expectations and improve the implementation of internal governance arrangements for individual institutions and the banking system as a whole It has 6 key sections . 1 -Corporate Structure and Organization The management body should ensure that Read more about EBA Guidelines on Internal Governance[…]
Now EU is mulling ban on virtual currencies and particularly bit coins as it seems there are more chances of irregularities which might happen and antisocial elements can use this route to beat the current regulations. “It’s imperative to move quickly on this issue,” Chantal Hughes, a spokeswoman for Financial Services Commissioner Michel Barnier, said Read more about Virtual currencies, gold, money laundering, regulations etc[…]
Over the last several years, the regulatory framework for export controls and economic sanctions in the U.S. has undergone significant changes. At the same time the risk of enforcement in the event of non-compliance has grown.Most products and technologies contemplated for export from the U.S. fall under the requirements of the Export Administration Regulations EAR. Read more about Export Administration Regulations[…]
The BSA also requires every US national bank to file a Suspicious Activity Report (SAR) when they detect certain known or suspected violations of federal law or suspicious transactions related to a money laundering activity or a violation of the BSA. A SAR filing is required for any potential crimes: Involving insider abuse regardless of Read more about Suspicious Activity Reports and filing Requirements[…]