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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2022-10-20T18:09:00
The Committee on Foreign Investment in the United States issued its first-ever enforcement and penalty guidelines for entities that violate mitigation agreements with CFIUS or otherwise run afoul of the Defense Production Act of 1950.
The guidelines, published Thursday, lay out three categories of acts or omissions that would constitute a violation: failure to file a mandatory declaration notice; noncompliance with CFIUS mitigation agreements, conditions, or orders; or providing CFIUS with a material misstatement, omission, or false certification.
CFIUS is an interagency body of the U.S. government authorized to review and address national security risks arising from certain transactions involving foreign investment in the United States. According to its annual report to Congress for calendar year 2021, CFIUS issued 272 notices of covered transactions last year. Of that total, 164 were reported voluntarily to the committee and 130 required further investigation.
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News and analysis for the well-informed compliance or audit exec.
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2024-04-11T17:50:00Z By Kyle Brasseur
A proposal by the Treasury Department would allow the Committee on Foreign Investment in the United States to seek more information as part of its review activities and enable “substantially” larger penalties in instances of noncompliance with relevant regulations.
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Three federal banking regulators issued guidance on the risks posed by the use of third-party financial technology firms to deliver bank deposit products and services to customers.
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Financial institutions holding Russian sovereign assets that have not reported them to the Treasury Department’s Office of Foreign Assets Control are now required to do so by Aug. 2.
2024-07-23T12:29:00Z By Ruth Prickett
Compliance officers should take note of proposed laws in the U.K. with the newly elected Labor government setting the legislative agenda in the King’s Speech last week, promising consultations on enhanced employee rights and a higher minimum wage.
2024-07-22T15:50:00Z By Aaron Nicodemus
Four federal banking regulators have joined the Treasury Department’s Financial Crimes Enforcement Network in issuing a notice of proposed rulemaking that would require financial institutions to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs.
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