On Sept. 29, 2022, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a final rule (Final Rule) implementing the beneficial ownership information (BOI) reporting provisions of the Corporate Transparency Act (CTA).
With a recent action brought against Ooki DAO by the U.S. Commodity and Futures Trading Commission (the “CFTC”), we have the opportunity to see some of the uncertainties raised in our previous posts answered.
Tracking the financial covenants in loan documents is a key priority for borrowers in a bear market.
On October 11, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and Financial Crimes Enforcement Network (FinCEN) announced settlements of over $24 million and $29 million, respectively, with Bittrex, Inc., a crypto trading platform based in Bellevue, Washington, for violations of the Bank Secrecy Act.
On Aug. 29, the IRS released a new section to the Internal Revenue Manual (IRM), 220.127.116.11.3.2.2, providing penalty relief for certain taxpayers filing 2019 and 2020 returns in response to Notice 2022-36, issued Aug. 24, 2022.
On August 8, 2022, the District of Columbia Department of Insurance, Securities and Banking (the Department”) issued a Bulletin on money transmission (the “Bulletin”).
Joined by two experts on the BNPL industry, we first review the types of BNPL products currently available, how they are accessed by consumers, how they generate revenue for industry participants, and potential consumer risks.
In response to the CFPB’s Request for Information Regarding Relationship Banking and Customer Service (RFI), three leading banking trade groups have submitted a comment letter in which they challenge the CFPB’s legal authority for the RFI.
The FDIC has issued new supervisory guidance (FIL-40-2022) on multiple non-sufficient funds (NSF) fees arising from the re-presentment of the same unpaid transaction.
With the steady development of the renewable energy sector in Latin America, this GT Alert presents significant recent advances in several countries in the region.
The regulations implementing the CCPA require that a business verify the identity of a consumer that submits a specific-information access request to a “reasonably high degree of certainty.”
The Financial Industry Regulatory Authority (FINRA) in November 2022 released a targeted exam letter pertaining to communications for crypto products and services.
It has been a long and heated debate as to whether NFTs and certain cryptocurrencies can be deemed as securities under applicable laws and precedents.
In a prior post, we wrote about the importance of reviewing the terms governing the sale of an NFT to determine what rights, if any, are included in the sale in order to commercially exploit the asset associated with the NFT, and the confusion that emerges in interpreting such terms through the lens of copyright law.
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