Focus Insight

OCC Issues Final "True Lender" Rule

On October 27, 2020, the Office of the Comptroller of the Currency (“OCC”) issued the final version of its “true lender” rule (the “Final Rule”). The…

11 November 2020

Brazil’s new approach to AML/CFT

Demarest partner Fabio de Almeida Braga outlines what practitioners need to know about Brazil’s new risk-based approach to money laundering and terrorism financing.

10 November 2020

"Progress is impossible without change": Operational resilience for financial services institutions

Following a brief hiatus caused by the Covid-19 pandemic, regulators and governments have been recently been re-engaging with reforms in the areas of…

10 November 2020

How can financial institutions adapt their KYC procedures to help identify cryptocurrency risk?

A court in the Netherlands recently ordered forfeiture of 2,532 bitcoins worth $33 million from a couple convicted of money laundering offences. The…

09 November 2020

The EU digital finance package: unwrapping digitally fit rules for financial services

The European Commission is eager to accelerate the EU’s digital transition and to ensure EU leadership in the realm of digital finance…

29 October 2020

FRB and FinCEN propose significant amendments to recordkeeping and travel rule regulations

On Oct. 23, 2020, the U.S. Department of the Treasury, Financial Crimes Enforcement Network (FinCEN) and the Board of Governors of the Federal…

29 October 2020

FSB publishes report on global stablecoins

The Financial Stability Board (FSB) has published its report with recommendations on how to promote coordinated and effective regulation, supervision…

29 October 2020

M&A in the Payments Sector: Key Legal, Regulatory and Contractual Considerations

Mergers and acquisitions involving companies in the payments industry have continued at a fast pace in 2020, with an increasing focus on payments…

27 October 2020

Overview of the SCA's proposed crypto asset regulations in the UAE

On 15 October 2020, the Securities and Commodities Authority (SCA) published a draft of its Regulation for Issuing and Offering Crypto-Assets (the…

27 October 2020

U.S. regulators assert broad jurisdiction over offshore cryptocurrency trading platforms

Recent actions filed in early October 2020 by the U.S. Department of Justice (the “DOJ”) and the Commodity Futures Trading Commission (the “CFTC”)…

27 October 2020

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