On 12 September 2017, FINRA issued 'T+2 Is Here' investor alert on impact from new cycle.
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Switzerland – FINMA AML Beneficial Owner
On 4 September, FINMA proposed new AML rules, for beneficial ownership. Follows fourth round mutual evaluation of Switzerland's AML provisions by FATF. Due to shortcomings, country entered the FATF enhanced follow-up procedure. Amendments are part of wider package of measures in response to FATF report. Package was summarized in a 28 June 2017, release issued…
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U.K. BoE Conflicts Management
On 9 August, BoE published review of approach to managing conflicts. Covers NED review of Bank of England's approach to managing conflicts of interest. BoE plans to designate Conflicts Officer with executive responsibility for conflicts. Follows Mar. BoE statement on resignation of new deputy governor Hogg. Conflicts Review Review examined policies for identifying and managing…
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OFAC Lists Venezuela President
On 31 July, Treasury OFAC designated President Maduro of Venezuela. Treasury Secretary Mnuchin delivered remarks at The White House press briefing. Basis of Sanctions OFAC designated Nicolas Maduro Moros, for undermining democracy in Venezuela. Arranged illegitimate elections to usurp democratically elected National Assembly. To rewrite constitution, and impose authoritarian regime on citizens of Venezuela. Claimed…
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