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May

13

Plan to Reform Currency Transaction Reporting Clears US Legislative Panel

House Financial Services Committee Chairwoman Maxine Waters (D-CA), center left, and Rep. Emanuel Cleaver (D-OH), center right, speak in Los Angeles on Tuesday, Aug. 30, 2011. On Thursday, May 9, 2019, the committee approved Cleaver’s plan to revise currency transaction reporting thresholds. (Alamy)

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HM Treasury modified its Consolidated List of Financial Sanctions Targets in the United Kingdom, which contains the names of designated individuals and entities subject to international asset freezing and domestic sanctions under the Terrorist Asset-Freezing etc. Act 2010.
The Office of Foreign Assets Control, part of the U.S. Treasury Department, updated its list of Specially Designated Nationals and Blocked Persons, which designates organizations and individuals who are restricted from doing business with the United States, American companies or Americans.
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Enforcement Actions

The U.S. Securities and Exchange Commission issued a cease-and-desist order against Wilson-Davis & Co. Inc. a Utah-based brokerage firm, for failing to monitor customers’ trading for suspicious activity and failing to thereafter file Suspicious Activity Reports on numerous transactions.
The United Kingdom's Gambling Commission issued a payment in lieu of a financial penalty of £2.2 million in settlement with the West Midlands, England-based online casino for its failure to meet anti-money laundering and social responsibility requirements.