ARTICLE
21 April 2017

NFA Advises Firms To Revise AML/CFT Programs To Reflect FATF Updates

CW
Cadwalader, Wickersham & Taft LLP

Contributor

Cadwalader, established in 1792, serves a diverse client base, including many of the world's leading financial institutions, funds and corporations. With offices in the United States and Europe, Cadwalader offers legal representation in antitrust, banking, corporate finance, corporate governance, executive compensation, financial restructuring, intellectual property, litigation, mergers and acquisitions, private equity, private wealth, real estate, regulation, securitization, structured finance, tax and white collar defense.
The NFA advised futures commission merchants and independent brokers that they should revise their anti-money laundering programs to reflect the most current information on jurisdictions identified by the Financial Action Task Force ("FATF").
United States Government, Public Sector

The NFA advised futures commission merchants and independent brokers that they should revise their anti-money laundering programs to reflect the most current information on jurisdictions identified by the Financial Action Task Force ("FATF"). The NFA alert concerned the latest FinCEN Advisory Notice on jurisdictions with strategic deficiencies in combating anti-money laundering and countering the financing of terrorism ("AML/CFT").

FinCEN recently (i) notified financial institutions of jurisdictions with strategic deficiencies in their AML/CFT regimes, (ii) added Ethiopia to the listing and monitoring process, and (iii) cautioned that Iran would remain in the "Enhanced Due Diligence" category through June 2017.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More