On Aug. 6, OFAC revised existing Iran-FAQs for reimposed sanctions. Follows White House Aug. 2018 executive order re-imposing sanctions re Iran. OFAC Statement and FAQ OFAC has revised statement and updated FAQ on implementation of May 2018 decision to end US participation in joint comprehensive plan of action (JCPOA). Implements Treasury May 2018 notice reimposing…
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FINRA Customer Diligence Rule
On Jul. 30, 2018 NFA announced compliance rule amendments to incorporate CDD. Applies to FCM, IB members must comply, identify beneficial owners, diligence. Also updated self-exam questionnaire and AML Procedures web client system. All changes are immediately effective, as required by the CDD rules in effect.
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Spain Adopt GDPR Emergency
On Jul. 30, Spain issued law to urgently implement part of GDPR. Temporary legislation passed to implement necessary part of EU GDPR regulation. Need for Decree Law Constitution provides, in case of extraordinary and urgent need, the Government may make temporary legislative provisions which shall take form of a decree-law. Follows entry into force across…
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