US House Panel Debates Beneficial Ownership Proposals

Rep. Carolyn Maloney (D-NY) addresses a crowd in New York City on Friday, June 16, 2017. At a congressional hearing in Washington, D.C. on Wednesday, March 13, 2019, Maloney and other lawmakers discussed plans to change how beneficial-ownership data is collected and kept. (Alamy)



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 United Kingdom's Solicitors Regulation Authority announced an upcoming series of rigorous checks on law firms to verify compliance with anti-money laundering obligations pursuant to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.

Enforcement Actions

The Reserve Bank of India issued a penalty of 10 lakh rupees against the Gujarat, India-based bank pursuant to the Banking Regulation Act for violation of its anti-money laundering and know-your-customer rules.
The Office of the Comptroller of the Currency issued a consent order against the Sioux Falls, SD-based financial institution requiring it to pay a $25 million civil money penalty for violations of the Fair Housing Act related to its Relationship Loan Pricing program.