Regulatory relief from anti-money laundering rules is in the cards for casinos, insurance companies and other non-bank financial institutions, the U.S. Treasury Department’s Treasury’s Financial Crimes Enforcement Network (FinCEN) said Monday.
Adrianne Appel
Adrianne Appel writes regulatory news, policy, and trends for Compliance Week. She previously reported about policy developments for Bloomberg Law and Bloomberg Government.
Email: adrianne.appel@complianceweek.com
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Posted inRegulatory Enforcement
Board chair of Puerto Rico bank helped its collapse by siphoning millions
The board chair of a failed Puerto Rican bank played a key role in its $92 million collapse by robbing it of more than $13.6 million, the Department of Justice said Monday.
Juan Francisco Ramirez, board chair of Nodus International Bank, pleaded guilty to stealing the millions, agreed to forfeiture of at least $13.6 million and faces 20 years in prison.
Posted inRegulatory Policy
Prosecutions of bribery, health fraud and market tampering are DOJ top priorities
Serious bribery, health care fraud and crimes that threaten U.S. investors are top enforcement priorities of the Trump Department of Justice, (DOJ), according to the acting head of the Department of Justice’s Criminal Division.
Posted inRegulatory Policy
More than 100 ‘anticompetitive’ federal regulations poised for the chopping block
About 125 federal regulations deemed anticompetitive by President Trump are poised for possible elimination, following recommendations delivered Wednesday to the Office of Management and Budget (OMB).
Posted inRegulatory Enforcement
Florida seafood exec faces 10 years for crab claw price fixing
A Florida seafood company executive has pleaded guilty to conspiring with competitors to fix the prices he paid to local fishers, an effort that impacted more than $8 million in wholesale fish and cut the pay of hundreds of fishers, the Department of Justice said.
Posted inRegulatory Enforcement
Former U.S. clothing business CEO convicted of using bribery to win $10M in contracts in Honduras
The former CEO of a Georgia clothing business faces 25 years in prison for bribing Honduran officials to win $10 million in uniform contracts in Honduras, after being caught up in a Department of Justice Anticorruption Task Force.
Posted inRegulatory Enforcement
California, Colorado, and Connecticut launch joint crackdown on privacy violators
California, Colorado, and Connecticut launched a joint enforcement sweep against businesses that fail to honor consumers’ online opt-out requests, the states announced Tuesday.
Posted inData Privacy
Google hit with $425.6 million verdict in California privacy case
Google allegedly collected personal data from mobile devices without permission, violating California privacy laws, a jury ruled in awarding more than $425.6 million to class-action plaintiffs.
Posted inRegulatory Enforcement
UBS, Santander, Citigroup, BNY clear compliance violations under special, CFTC enforcement sprint program
BNY, Citigroup, Santander, UBS, and two other financial institutions paid a total of $8.3M to settle separate compliance violations with the CFTC.
Posted inRegulatory Policy
HHS to prioritize enforcement against hospitals, providers and health IT who interfere with electronic record sharing
The Department of Health and Human Services is stepping up its enforcement against hospitals and other health entities that block the sharing of electronic health records.
