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The Biden Administration has moved quickly to nominate new
leadership at the Securities and Exchange Commission
( SEC or Commission ). President Biden, in a
move that provides insight into his priorities and the approach his
administration will pursue with regard to regulatory action, has
nominated former Commodity Futures Trading Commission
( CFTC ) Chairman Gary Gensler to lead the SEC. Mr.
Gensler, who led the CFTC during the Obama Administration in the
aftermath of the 2008 financial crisis, is expected to take a
tougher stance toward Wall Street than the prior administration
The New Anti-Money Laundering Act of 2020 and Potential Effects on Foreign Businesses and High Net Worth Individuals | Sheppard Mullin Richter & Hampton LLP jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.
Monday, March 15, 2021
On March 12, 2021, Senator Charles Grassley (R-IA) sent a letter to Gary Gensler, the current nominee for Chairman of the Securities and Exchange Commission, seeking commitment to the protection of the highly successful SEC Whistleblower Program. The letter was first reported by Geoff Schweller at the Whistleblower Network News (WNN) who described the letter to the soon to be confirmed former Chair of the Commodity Futures Trading Commission (CFTC). The WNN article focused on Sen. Grassley’s well-established history of championing whistleblower rights, and outlines the challenging and specific questions raised by the Senator.
Senator Grassley’s letter to the nominee for Chairman of the Securities and Exchange Commission (SEC) highlights the incredibly influential role played by the Chairman, the SEC, and the agencies whistleblower programs. As noted by the Senator, the SEC whistleblower program has had an exemplary program which has given credib
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The New Anti-Money Laundering Act of 2020 and Potential Effects on Foreign Businesses and High Net Worth Individuals Friday, March 12, 2021
On January 2, 2021 the National Defense Authorization Act (“NDAA”) became law. Importantly, the NDAA included sweeping legislative reforms to anti-money laundering (“AML”) laws, which are now codified in the Anti-Money Laundering Act of 2020 (“AMLA”) (NDAA §§ 6001-6511). Designed to enhance national security concerns, these AML amendments will significantly impact financial institutions, certain types of businesses both domestic and foreign, and High Net Worth Individuals (“HNWIs”). While HNWIs legitimately seek to maintain confidentiality in their corporate entities or wealth management structures, the AMLA will make that more difficult and potentially more dangerous.
SEC Enforcement in 2021: A Look Ahead | Foley Hoag LLP - White Collar Law & Investigations jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.