The Financial Crimes Enforcement Network (FinCEN) has completed two of its early benchmark obligations arising out of the recently passed Anti-Money Laundering Act of 2020 (the “AML Act”), which we previously wrote about here.  First, FinCEN published its first-ever government-wide list of Anti-Money Laundering and Countering the Finance of Terrorism (AML/CFT) priorities.  Second, FinCEN published its report on the potential for a FinCEN no-action letter process. Below are some key takeaways from these publications, and here is a deeper analysis of the issues. Priorities: The AML...

The U.S. Equal Employment Opportunity Commission (EEOC) recently announced that it is loosening the requirement on companies to provide notice to the federal agency of acquisitions, mergers, and spinoffs. By way of background, in addition to requiring the submission and certification of two years of EEO-1 reports, the EEOC had created a new filing platform for the 2019 and 2020 EEO-1 filings, which are due by August 23, 2021. The transition to the new platform and the requirement to...

Originally appeared in the Boston Business Journal, July 26, 2021 | Key insights Hackers continue to exploit weaknesses in cybersecurity systems and practices. The cost of a data breach can be in the millions of dollars, and take close to a year to detect and rectify the situation. Pre- and post-breach cyber regulations have been specifically developed for some industries and states. Take steps now to develop a strong, compliant cybersecurity program for your organization. When a business suffers a cyber...

Traditionally used by hedge funds to drive alpha-generating strategies, news analytics data also has applications for assessing financial market risks, as the deep dive into the research below shows. Before ordering in the Moet it’s always a good idea to make sure your back is covered, and as every professional money manager knows, an accurate assessment of the potential downside to any given position is an integral part of the job, especially in the current regulatory climate. The investment game is...

TABS entered a unique collaboration to give access to affordable health insurance for expats, offering our network many advantages if you join through TABS! Many European start-ups that are expanding to the U.S. are hoping to offer great health insurance to their future hires. They often aim to offer health benefits that are similar to the European head office and use these great benefits as a selling point to attract new talent for their U.S. subsidiary. However, what many start-ups...

A new anti-money laundering and counter terrorism financing (“AML-CFT”) package was published by the European Commission on Tuesday 20 July 2021. Link to package here This package aims to further enhance the existing EU AML-CFT framework by taking into account new and emerging challenges linked to technological innovation (including virtual currencies, more integrated financial flows in the Single Market and the global nature of terrorist organisations). It also aims to harmonise this framework. The package is composed of the following legislative...

Introduction No-poach and wage-fixing agreements - arrangements between companies seeking to prevent or limit the hiring of each other’s employees, or to suppress the wages and/or benefits of their respective current employees are not only currently under the spotlight in the US, but have also been subject to scrutiny by antitrust authorities in the European Union (EU), albeit to a more limited degree. These antitrust infringement decisions have mostly been taken by EU Member State national competition authorities (NCAs), rather...