Events listed in United States
Notice of OFAC Sanctions Actions
ID 21678
The Office of Foreign Assets Control, OFAC, has published in the Federal Register a sanction notice concerning sanction measures that were announced in a previous press statement, but not actually included in a corresponding sanction publication. Thereafter, the following individuals and entities were sanctioned on January 26, 2023 pursuant to Executive Order (E.O. 13818) for their engagement in corruption and / or human rights ...
Home Mortgage Disclosure Act: Loan Origination Threshold Changes
ID 21674
In view of the recent threshold adjustment outlined in regulation C with respect to closed-end mortgage loans data reporting requirements of financial institutions, the Office of the Comptroller of the Currency, OCC, has published a new Bulletin (OCC Bulletin 2023-5) in this context. Therein, the OCC briefly describes the „new“ requirement and outlines its supervisory approach for the previous three years during which the ...
Small Business Advisory Committee to Host Meeting to Discuss Alternatives to ...
ID 21669
The U.S. Securities and Exchange Commission, SEC, has published a press statement to inform that its Small Business Advisory Committee will hold a meeting on February 7, 2023 to discuss, among other things, possible impacts of the Commission’s proposed enhancements to the disclosure requirements and audit obligations of private funds (please see EventID 14399 in this context). The Committee will further evaluate funding alternatives ...
Burma-related Designations
ID 21648
The Office of Foreign Assets Control (OFAC) has published a press release to inform about new sanction measures. Specifically, the Office added several individuals and entities to its Specially Designated Nationals and Blocked Persons List (SDN List) due to their connection to the Burma military regime pursuant to Executive Order 14014. The affected parties are the following: ##### Designated Persons 1. AUNG, Htun (a.k.a. ...
SEC Proposes Updates to Ethics Rules Governing Securities Trading by Personnel
ID 21637
In an effort to further enhance ethical standards of its personnel and to modernize its corresponding rules, the U.S. Securities and Exchange Commission (SEC) – in cooperation with the Office of Government Ethics – has published a press statement to announce an upcoming consultation paper with proposed amendments to its Ethical Rules. Currently, so the SEC, employees and their families are already subject to ...
Counter Narcotics Designations
ID 21636
The Office of Foreign Assets Control (OFAC) has published a press release informing about new sanction measures. Specifically, the Office announced that it has added three individuals to its Specially Designated Nationals and Blocked Persons List (SDN List) for being engaged in the trafficking of fentanyl and other illegal drugs pursuant to Executive Order 14059. The affected persons are the following: **RIVERA ZAZUETA, Jose ...
Federal Reserve Board issues policy statement to promote a level playing field for ...
ID 21615
The Board of Governors of the Federal Reserve System (FED) has published a press release to inform of an upcoming new Policy as regards the engagement of FED-supervised banks in „novel“ financial services and products (e.g. custody services for crypto-assets). Specifically, in its new Policy Statement the FED is using its powers under Section 9(13) of the Federal Reserve Act to determine that banks ...
Regulations Implementing the Adjustable Interest Rate (LIBOR) Act
ID 21596
Following a corresponding press statement which announced the finalization of a rule to implement a new Statutory Instrument, namely 12 CFR Part 253, to transpose the Adjustable Interest Rate (LIBOR) Act of 2021, the Federal Reserve Board (FED) has now published in the Federal Register (FR) this final rule with a final effective date. Specifically and as previously stated, the Board’s new rule determines ...
Russia-related Designations and Designation Update; Central African Republic ...
ID 21590
The Office of Foreign Assets Control (OFAC) has published a press release to announce new sanction measures. Specifically, OFAC is designating numerous individuals, entities, vessels, and aircrafts of the Wagner Group due to the group’s facilitation of Russia’s war against Ukraine and its criminal activities in Africa in accordance with amended Executive Order (E.O.) 14024 and Executive Order (E.O. 13667). OFAC is also adding ...
Risk Real Estate Russian: FinCEN Alert
ID 21587
Risk Real Estate Russian: FinCEN Alert on Potential U.S. Commercial Real Estate Investments by Sanctioned Russian Elites, Oligarchs, and Their Proxies The Financial Crimes Enforcement Network (FinCEN) has issued an aler to provide guidance to financial institutions regarding possible sanction evasion attempts by Russian oligarchs through investments in commercial and / or private real estate. new alert The alert provides examples of such attempts ...