This CLE webcast will provide an update on anti-money laundering (AML) developments, including the Financial Crimes Enforcement Network’s (FinCEN) recently proposed rule that would require financial institutions subject to Customer Identification Procedures (CIP) (including banks, brokers or dealers in securities, mutual funds, futures commission merchants, and introducing brokers) to identify beneficial owners of legal entity customers and subject them to customer due diligence (CDD). In addition, the webcast will provide an update on other AML regulatory developments and industry best practices. Key focal points of the program will examine:
- Proposed rules to enhance financial transparency
- Advisories on AML compliance
- Promoting a culture of compliance
- Lessons from recent enforcement actions
- Growing focus on trade-based money laundering
- Interplay of AML and Office of Foreign Assets Control Enforcement
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