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)



The European Union issued Commission Implementing Regulation (EU) 2019/808, which amends the sanctions list with respect to Iraq.
The National Crime Agency issued a press release announcing that a member of Syria’s ruling Assad family, Aniseh Chawkat, who had received funds while studying in London, had forfeited the contents of her U.K. bank account following an NCA investigation.

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.