Financial Services Spotlight

April 2016 First Half Developments

Posted by Roy Andersen on Apr 16, 2016 12:00:00 PM


Crowdfunding portals will have to do AML checks on the investors in such proposed financings.  The parties offering such services will be defined as brokers or dealers in securities for AML purposes.  OFAC is imposing new sanctions rules on Hizballah and on the country of Burundi.

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Topics: CFPB, SDN List, Somalia, Burundi, South Sudan, Hizballah, Liquidity Ratios

About the Spotlight

The Financial Services Spotlight examines the regulatory and technology developments impacting banks, asset managers and other financial services providers—where challenges meet opportunities.

The material on this site is for general information only and is not legal advice. No liability is accepted for any loss or damage which may result from reliance on it. Always consult a qualified lawyer about a specific legal problem.


Meet the Authors

Roy C. Andersen, of counsel in Sullivan & Worcester's New York office, is a member of the Corporate Department. Mr. Andersen focuses on bank regulatory and compliance matters, including international banks and their branches and agencies in New York.

Joel Telpner, partner in the firm's New York office, is a seasoned advisor, strategist and problem solver. Mr. Telpner brings more than 30 years of legal experience in a career that includes time as an AmLaw 100 partner, the former U.S. general counsel of a global financial institution, and a venture capitalist. He is recognized for his ability to deftly manage complex financial transactions, especially those involving sophisticated structured finance and derivatives matters and has an extensive and unique combination of transactional and regulatory experience.

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