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Winston’s financial crimes compliance lawyers have been providing regulatory compliance counseling and enforcement services related to the Bank Secrecy Act (BSA), the Anti-Money Laundering Act of 2020 (AML), and countering the financing of terrorism (CFT) policy for decades. We also have experience with international AML matters, including in the EU and with respect to Financial Actions Task Force (FATF) recommendations.
Practice Area
International trade is essential for the growth and development of global economies and businesses. As international trade has expanded and developed, so too have the myriad rules and regulations that govern it. The global compliance environment is becoming more complex by the day and can be difficult to navigate without the assistance of experienced counsel. Failure to comply with international trade rules and regulations—even if done so unwittingly—can lead to civil and criminal penalties, monitorships, consent agreements, debarment, reputational damage, substantial administrative burden, legal expense, and unsatisfied business objectives. Increasingly, there also is exposure for individual officers/directors, which can include monetary penalties and, potentially, jail time.
Practice Area
Winston’s financial services litigators advise financial services companies of every size and scope on litigation, dispute resolution, and regulatory matters in local, state, and federal jurisdictions. While we are proud to have advised many clients as to how avoid formal legal proceedings, should litigation arise, we bring to bear the full strength of our nationally renowned litigation and trial practice when it does arise.
Insights & News 24 results
Client Alert
|September 9, 2024
|7 Min Read
On August 8, 2024, the federal banking agencies—the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the National Credit Union Administration (collectively, the Banking Agencies)—caused to be published in the Federal Register their jointly issued notice of proposed rulemaking (NPRM) for a proposed rule that would revise each of the Banking Agencies’ long-standing program rules for anti–money laundering and countering the financing of terrorism (AML/CFT) for the depository institutions that each agency supervises.[1]
Client Alert
|September 5, 2024
|4 Min Read
FinCEN Final Rule Exempts Certain Investment Advisers from AML/CFT Compliance Requirements
Earlier this year, we wrote about the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) proposed rule, which would have imposed certain anti-money laundering and combating the financing of terrorism (AML/CFT) program and other Bank Secrecy Act (BSA)-related obligations, including suspicious activity reporting obligations (SARs), on all U.S. Securities and Exchange Commission (SEC)-registered investment advisers (RIAs) and exempt reporting advisers (ERAs).
Client Alert
|August 14, 2024
|5 Min Read
U.S. Banking Regulators Target Bank-Fintech Partnerships
On July 25, 2024, the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and Board of Governors of the Federal Reserve System (collectively, the “Banking Agencies”) released both a Joint Statement and request for information (RFI) regarding banks’ arrangements with financial technology (fintech) companies for the delivery of bank products and services to end users.
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Location
Winston & Strawn’s Washington, D.C. office—the first outside of Chicago—opened its doors in 1970. The office is home to 75+ attorneys, many of whom are nationally recognized and award-winning, with experience navigating clients through regulatory and enforcement issues as well as complicated governmental processes. Located in the center of the nation’s capital, the D.C. office assists clients at the intersection of business, government, and law. We represent 75+ Fortune 500 companies and employ eight attorneys with prior government experience. The office also boasts a nationally ranked eDiscovery group known for providing a full-service practice.