NY Regulator Issues Anti-Money Laundering Rules for Global Banks
Source: BFW (Bloomberg First Word)
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(Bloomberg) -- N.Y. Dept. of Financial Services confirms new rules requiring banks to bolster internal oversight to go into effect Jan. 1.
Alert: HALISTER1- Will require banks to maintain transaction monitoring program, with protocol for how activities that set off red flags should be investigated
- Will require global banks licensed in N.Y. to provide annual certification from board (or sr compliance officer) attesting to efforts
- Rules appear designed to address problems identified by DFS in previous settlements; since 2012, DFS has initiated/participated in resolutions with Standard Chartered, BNP Paribas, Bank of Tokyo Mitsubishi, Commerzbank, Deutsche Bank, Credit Agricole, others stemming from violations of U.S. sanctions laws
- NOTE: Yday, NY Bank Regulator to Publish Anti Money- Laundering Rules: WSJ
- Full story: NSN O9L9AH6K50XV
Source: BFW (Bloomberg First Word)
Tickers
STAN LN (Standard Chartered PLC)
BNP FP (BNP Paribas SA)
BARC LN (Barclays PLC)
CSGN VX (Credit Suisse Group AG)
DBK GR (Deutsche Bank AG)
To de-activate this alert, click here
UUID: 7947283