A European Union financial reform bill scheduled for a vote Monday could impose new anti-money laundering requirements on offshore investment vehicles, including U.S. hedge funds, say analysts.
The Obama administration Thursday proposed funding increases for federal bank supervision and the U.S. Treasury Department agency that oversees the implementation of the Bank Secrecy Act.
The Obama administration nominated a former anti-money laundering lawyer as an assistant secretary of the U.S. Treasury Department's counter-terrorism finance division.
Plans to increase the number of federal financial crime investigators advanced Thursday as the Obama administration and lawmakers alike called for more resources at the U.S. Justice Department.
The incoming Obama administration is likely to scale back limits on remittances to Cuba imposed by President Bush, a move that would be welcomed by the U.S. financial community, according to bank regulatory specialists.