In 2012, Unregistered MSBs, Iran Sanctions and New Rules Will Loom Large, Say Industry Experts

Whether the economy improves or stays flat in 2012, the coming year will pose a number of new challenges for the compliance professionals charged with implementing sanctions and anti-money laundering controls, say industry leaders. One issue that's likely to command compliance resources again is sanctions. After a year of ramping up economic pressure against Iran, President Obama signed a measure into law Saturday that could force U.S. banks to determine whether their foreign counterparts are transacting with the Persian nation, a move that's likely to draw regulatory attention, say experts. Proposed and finalized regulations involving prepaid access products and plans...