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Regulation

As the US bill to roll-back the Dodd-Frank reforms that were designed, amongst other things, to stabilise banks to protect them from failure is sent to the President, who promoted it, for signature, BankingInsuranceSecurities.com points out one statistic that might indicate how successful Dodd-Frank has been and why the changes increase the USA's risk profile.

Editorial Staff
BIScom Subsection: 

Yesterday, the USA's President Trump announced that the US would leave the Joint Comprehensive Plan of Action a.k.a. the Iran Nuclear Deal. Below is a list of resources.

Editorial Staff
BIScom Subsection: 

We've been down this road before: Australian Securities and Investments Commission (ASIC) has taken action against auditors of self-managed
superannuation fund (SMSF).

Coupled with the evidence before the Royal Commission one thing is clear: ASIC's mandate is fundamentally flawed and a new model must be created ASAP, not ASIC.

Editorial Staff
BIScom Subsection: 

When Barnaby Joyce admits he was wrong, as he has done recently over his previous comments that a Royal Commission was appropriate to inquire into the management and practices of Australia's banks, it's obvious how things are going. It's starting to look as if the sector is going to get a huge shake-up - and the removal of many senior officers. One hopes they are replaced with competent bankers, not more recruits from consulting companies - or from the revolving door with government and quasi-government jobs.

Nigel Morris-Cotterill
BIScom Subsection: 

A correspondent asks "As a UK individual how do I report / alert the US authorities to the a craptocurrency used by employees and the Chairman of a group of companies with offices in St Louis, Missouri ?"

Here's the answer, and it explains differences between OFAC and FinCEN, etc. reports.

Nigel Morris-Cotterill
BIScom Subsection: 

Titled "PROPOSED CHANGES TO THE DFSA’S ANTI MONEY LAUNDERING, COUNTER-TERRORIST FINANCING AND SANCTIONS REGIME," the consultation paper was issued on 18 February 2018 and the consultation period ends on 24th March 2018.

Notes by Nigel Morris-Cotterill, The Anti Money Laundering Network

Nigel Morris-Cotterill
BIScom Subsection: 

In this article, Ajay Shamdasani , Thomson Reuters Regulatory Intelligence, takes soundings on what might be expected from the FATF's Mutual Examination of Hong Kong, the results of which are expected soon.

Editorial Staff
BIScom Subsection: 

Financial adviser Drew Grosskreutz of Queensland, Australia, has been banned from providing financial services for three years, says ASIC

Editorial Staff
BIScom Subsection: 

This article, by Nigel Morris-Cotterill, was first published in September 2002. It is, in part based on a briefing to banks, etc, in London in November 2001 and draws attention to the effect of the money laundering, etc. provisions of the just in-force USA PATRIOT Act.

Nigel Morris-Cotterill
BIScom Subsection: 

The ICO, or initial coin offering, is causing furrowed brows at regulators. It's a fascinating concept and governments are split: should they regulate it on the hoof or, as China has done, ban it until they can work out what do to about it? Or should they pretend it's not happening?

All three approaches are being adopted.

Nigel Morris-Cotterill
BIScom Subsection: 

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