La Ley ALD del 2020 Puede Cambiar las Reglas del Juego para los Profesionales del Cumplimiento
El 2 de diciembre del 2020, la Cámara de Representantes de los EE. UU. aprobó la “Ley de Autorización de Defensa Nacional William M. (Mac) Thornberry para el año fiscal 2021“. La Ley incluye la DIVISIÓN F (ANTI-LAVADO DE DINERO).
- Foodman website and JD Supra
Is there help on the Way for the De-risked?
Rising compliance costs, hard to understand corporate client structures, fines and penalties, a shift from corporate responsibility to individual liability, and reputational concerns have led many US Financial Institutions (“FI”) to de-risk or end customer relationships as along with the
- Foodman website and JD Supra
¿Hay Ayuda en el Camino para los “Derisked”?
El aumento de los costos de cumplimiento, las estructuras de clientes corporativos difíciles de entender, las multas y sanciones, el cambio de la responsabilidad corporativa a la responsabilidad individual y las preocupaciones sobre la reputación han llevado a muchas instituciones
- Foodman website and JD Supra
¡Después de Diez Años, FATCA NO SE VA!
FATCA se convirtió en ley en Marzo del 2010 con el objetivo de combatir el incumplimiento de la declaración del impuesto sobre la renta internacional por parte de ciudadanos estadounidenses y residentes contribuyentes estadounidenses (contribuyentes estadounidenses). Requiere que las Instituciones
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Comisionado del IRS envía un Mensaje Importante a los Contribuyentes de Altos Ingresos que No Declaran
El 3 de diciembre del 2020, el IRS publicó “Cómo el IRS prioriza el trabajo de cumplimiento en los no declarantes de altos ingresos a través de esfuerzos nacionales e internacionales” en el Estudio titulado “Closer Look”. El estudio se
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FinCEN provides a Section 314(b) welcomed clarification
Section 314(b) of the USA PATRIOT Act (Sec 314) was drafted by Congress in 2001 to allow financial institutions to work with law enforcement agencies and with each other to support the common goal of deterring money laundering and terrorist
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Should Banks Continue To Do Business with Entities for Which a SAR is Filed?
Should Banks Continue To Do Business with Entities for Which a SAR is Filed? This article appeared at the Daily Business Review on 12/23/20
- Daily Business Review
Compliance Function Shall Not be “Underfunded”
Compliance Professionals continue protecting their Financial Institutions during these unprecedented times. They have become a source of regulatory information for Financial Institutions facing challenges that are changing from day to day. As the Pandemic continues, Compliance Departments and Compliance Officers
- Foodman website and JD Supra
After Ten Years, FATCA is NOT GOING AWAY!
FATCA was signed into law in March 2010 with the objective of combating international income tax reporting non-compliance by US citizens and U.S. taxpaying residents (US Taxpayers). It requires Foreign Financial Institutions (FFIs) to annually report the reportable balances and
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¿Mantiene su Institución Financiera un Cumplimiento Continuo con FATCA?
La participación en FATCA no es una opción, llegó para quedarse y es parte de una iniciativa global. FATCA es complicado, y para los banqueros, ha implicado aprender nueva terminología y comprender en exceso de un mil de páginas de
- Foodman website and JD Supra
Is your Financial Institution Maintaining Continuous Compliance with FATCA?
Participation in FATCA is not an option, it is here to stay, and it is part of a global initiative. FATCA is complicated, and for the bankers, it has implied learning new terminology and understanding thousands of pages of a
- Foodman website and JD Supra
Beware of FATCA Notices of Default After FATCA Certification Deadlines!
Under FATCA, an Event of Default (EOD) will occur if an Entity fails to perform required material obligations with respect to the due diligence, verification, withholding, or reporting FATCA requirements, or if the IRS determines that the entity has failed
- Foodman website and JD Supra