Compliance Update: Changes in Global Watchlists
Recent Developments in International Watchlists With the conclusion of the Financial Action Task Force’s (FATF) fifth Plenary on 23 February 2024, we have important updates to share regarding changes to the FATF’s international watchlists: Updates to the “Grey List”: New Additions: Kenya and Namibia have…
Regulatory Update: FinCEN Looks To Expand Anti-Money Laundering Rules to Investment Advisers
What’s Happening? On 13 February 2024, the Financial Crimes Enforcement Network (FinCEN) put forward a proposal to expand the anti-money laundering and counter-terrorist financing (AML/CFT) rules under the US Bank Secrecy Act (BSA) to US investment advisers. This change aims to bring investment advisers, including…
Regulatory Update: MAS Responds to its Repeal of the RFMC Regime
Key Details on the RFMC Regulation Changes The Monetary Authority of Singapore (MAS) has released important responses regarding the repeal of the Registered Fund Management Companies (RFMC) regulatory framework. For detailed information on MAS’s responses, please access the full document here. Transition Timeline and What…
Dates to Watch
Staying on top of compliance reporting deadlines is crucial for financial institutions and investment managers. The following are important dates to watch for: FATCA Reporting Dates Australia: 31 July 2024 Singapore: 31 May 2024 British Virgin Islands: 31 May 2024 Cayman Islands: 31 July 2024…
