DOJ Changing of the Guard Could Impact Corporate Compliance
Several recent critical changes within the U.S. Justice Department could impact corporate compliance in the U.S. regardless of who assumes the presidency.
Entries by admin_fidj
What Barclays’ Africa Pullout Means for De-Risking Phenomenon
In a recent decision to reduce its Africa presence, Barclays emphasized the regulatory costs of maintaining operations on the continent. But compliance professionals see the move as yet another marker of the de-risking phenomenon as global banks continue to pull out from emerging markets around the world.
Marijuana Regulatory Update: FDA Issues Warning Letters to CBD Dietary Supplement Companies
In 2015, the U.S. Food and Drug Administration (“FDA”) took steps to curtail the use of cannabidiol (CBD) in dietary supplements. CBD is a non-narcotic component of Cannabis sativa.
Coral Gables’ Gibraltar Private Bank fined $4 million for Rothstein-related issues
Federal regulators have fined Gibraltar Private Bank and Trust Company of Coral Gables a total of $4 million for violations of the U.S. Bank Secrecy Act, alleging in two separate complaints that the bank regularly failed to report activities consistent with money laundering.
Gibraltar hit with regulatory action for secrecy act and anti-money laundering violations
Coral Gables-based Gibraltar Private Bank & Trust has been hit with two separate penalties related to Bank Secrecy Act and anti-money laundering compliance, regulators announced Thursday.
Practical Applications of the Yates Memorandum for the U.S. Food Industry
2015 was a landmark year for the United States food industry. Fresh off the heels of finalizing significant food safety regulations in 2014, FDA took an increasingly aggressive approach to regulation and enforcement, including working closely with the Department of Justice (“DOJ”) to pursue prosecutions against companies and individual employees responsible for introducing tainted food into interstate commerce.
Anti-Money Laundering Compliance Update: FinCEN announces new reporting requirements for all-cash real estate transactions in Miami and New York City
On January 13, 2016, the Financial Crimes Enforcement Network (“FinCEN”) of the United States Department of the Treasury issued two Geographic Targeting Orders (“Targeting Orders”) aimed at potential money laundering activity in the real estate market.
No More Anonymity for Cash Buyers of Luxury Miami-Dade Homes
For international buyers purchasing luxury condominiums in Miami, new federal regulations aimed at removing secret identities on deals worth more than $1 million threatens to slow an already-lagging housing market.
Real-Estate Faces New Compliance After Getting A Pass
A U.S. Department of Treasury order targeting secret high-end real estate buyers could represent a day of reckoning on anti-money laundering compliance for the industry, experts say.
How the Feds Blew a Case Against an Alleged South American Drug Money Launderer
For federal law enforcement officials, Martin Lustgarten Acherman was a prize catch in the war on drugs. Since 2007, investigators had been keeping tabs on the Miami-based businessman who maintains dual citizenship in Austria and Venezuela, methodically gathering evidence that Lustgarten was laundering tens of millions of dollars for Colombian and Mexican drug traffickers, as well as paramilitary groups, according to court documents obtained by VICE.
