The Department of Labor proposed a new investment advice fiduciary rule, which generally reinstates the DOL’s longstanding investment advice fiduciary test and provides a new prohibited transaction exemption for such fiduciaries.

Chapman is tracking legal, regulatory, and legislative developments related to the coronavirus/COVID-19 crisis. Our resources include client alerts that address issues spanning the financial services industry.

On June 16, the Securities and Exchange Commission issued an order granting registered municipal advisors an emergency, temporary conditional exemption from broker registration under Section 15 of the Securities Exchange Act of 1934 in connection with certain direct placement activities.

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Topic: FinCEN

7 matches.

To the Point!
Bank Regulatory Newsletter
Legal, Operations, and Strategy Briefs for Financial Institutions
May 25, 2016
In this edition:
- NACHA Operating Rules — New Unauthorized Entry Fee
- Customer Due Diligence — Beneficial Ownership Rule
- Limited English Language Proficiency Customers
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Client Alert
FinCEN Publishes Its Final Rule on Customer Due Diligence Requirements for Legal Entity Customers
May 23, 2016
Client Alert
The Financial Crimes Enforcement Network recently published its final rule under the Bank Secrecy Act of 1970, as amended on customer due diligence requirements for banks, broker-dealers, mutual funds and futures commission merchants and introducing brokers in commodities.

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To the Point!
Bank Regulatory Newsletter
Legal, Operations, and Strategy Briefs for Financial Institutions
February 19, 2016
In this edition:
- Standards for Safeguarding Customer Financial Information
- HIPAA Data Breach Notification Deadline — February 29, 2016
- CFPB Issues Additional Guidance on Furnisher Obligations under Regulation V
- Court Denies Motion to Dismiss Complaint Against Compliance Officer for Bank Secrecy Act Violations
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Client Alert
FinCEN Proposes Anti-Money Laundering Requirements for Investment Advisers
Client Alert
September 2, 2015
The Financial Crimes Enforcement Network recently proposed rulemaking to prescribe minimum standards for anti-money laundering programs.

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To the Point!
Bank Regulatory Newsletter
Legal, Operations, and Strategy Briefs for Financial Institutions
May 8, 2015
In this edition:
- U.S. Supreme Court Will Not Hear CashCall Case – Uncertainty for Marketplace Lenders?
- FinCEN Current Priorities
- Guidance on Youth Savings Programs
- Overdraft Update – CFPB Enforcement Action
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Client Alert
SEC Extends AML Relief: Broker-Dealers May Rely on Investment Advisers to Perform CIP Obligations; FinCEN Indicates Potential Investment Adviser AML Program Rule
January 22, 2015
The Securities and Exchange Commission recently issued a no-action letter which grants relief to broker-dealers, allowing them to rely on investment advisers to perform some or all of their Customer Identification Program obligations under federal anti-money laundering legislation.

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To the Point!
To the Point!
October 9, 2014
In this issue:
- FinCEN Proposed Rule on Customer Due Diligence Requirements
- CFPB Issues First Enforcement Action for Mortgage Servicing Rules
- Cordray Speaks about Checking Account Issues
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