Topic: FinCEN

JD Supra Corporate Brief: Medicare Fraud, Cybersecurity Developments, Transfer Pricing, Export Compliance

Hey, Florida: welcome to the club! On this day in 1845, Florida became the 27th state in the Union. The feds estimate that $6 billion of Medicare payments each year are improper. And they’re going after the offenders… (Simi Botic and Thomas Hess at Dinsmore & Shohl) February was a busy month in privacy and cybersecurity…… Read more »

JD Supra Corporate Brief: Cybersecurity Framework, FCPA Enforcement, Marijuana Money, Food Safety

Enough is enough: on this day in 1951, the Twenty-second Amendment to the US Constitution was ratified, limiting presidents to two terms. Five things every in-house counsel should understand about the NIST Cybersecurity Framework… (King & Spalding) Are you listening to what the SEC is saying about the FCPA? (Aaron Tidman at Mintz Levin) Feds… Read more »

Feds To Banks: We Probably Won’t Bother You For Taking Marijuana Money…

“Although the guidance pursued an admirable goal, it fell remarkably short.” (Steven Eichorn) Earlier this month, the Financial Crimes Enforcement Network (FinCEN) and the Department of Justice issued guidance intended to clarify the rules for banks that wish to provide financial services to legal marijuana businesses. The background, from attorneys Jay Baris and Oliver Ireland… Read more »

JD Supra Corporate Brief: SEC Priorities, Cybersecurity Lawsuits, H-1B Petitions, Knowledgeable Employees

On February 26, 1995, the UK’s oldest investment bank, Barings Bank, collapses when broker Nick Leeson loses $1.4 billion by speculating on the Singapore International Monetary Exchange. When the SEC Speaks, you should listen: highlights from the 2014 SEC Speaks Conference… (Perkins Coie) Will the Cybersecurity Framework open the door to a new wave of… Read more »

JD Supra Corporate Brief: Marijuana Industry Banks, Moldy Washing Machines, Deferred Prosecution Agreements, Foreign Sanctions Evaders

Go ahead, sign up for email delivery of the JD Supra Corporate Brief. It is Tuesday, after all… The bottom line? Banks should think twice before doing business with a marijuana-related business… (Jay Baris and Oliver Ireland at Morrison & Foerster) Injury or no injury, consumers are free to join class action lawsuits against Whirlpool… Read more »

JD Supra Corporate Brief: Cyber Insurance, Financial Employers, Bitcoin Payments, Net Neutrality

Be the first on your block to get email delivery of the JD Supra Corporate Brief. Sign up here. Yes, you need insurance for data breaches – because it’s not of a question of “if,” but “when”… (Roberta Anderson at K&L Gates) Pay disputes, whistleblower programs, and other hot topics for employers in the financial… Read more »

JD Supra Corporate Brief: Supply Chain Security, Safe Harbor Program, Iran Sanctions Changes, California Fracking Rules

On December 2, 2001, Enron filed for Chapter 11 bankruptcy. Can you believe it’s been just twelve years? What do changes to US sanctions on Iran mean for American companies? (Perkins Coie) Supply chain security compliance just got a lot harder for Department of Defense contractors… (Peter McLaughlin, Rick Vacura, and Bradley Wine at Morrison… Read more »

JD Supra Corporate Brief: Social Media, Virtual Currencies, Patent Trolls, Generic Drugs

On this day in 1974, the Department of Justice filed its final antitrust suit against the AT&T Corporation, leading to the breakup of AT&T and its Bell System. Have a social media policy? You’ll want to add these items… (JD Supra Perspectives) Sure, Bitcoins and other virtual currencies present tantalizing investment opportunities, but look before… Read more »

Getting Into the Virtual Currency Biz? Here’s How to Stay Legal…

“If your business involves creating, obtaining, distributing, exchanging, accepting, or transmitting virtual currencies, you may be subject to FinCEN’s registration, reporting, and recordkeeping requirements.” (Pillsbury)   May 2013 was a watershed month for the virtual currency industry. For the first time in history, US law enforcement filed charges against two virtual currency exchange companies for… Read more »

FBAR: Foreign Bank and Financial Accounts Reporting Extensions

The Financial Crimes Enforcement Network and the Internal Revenue Service have recently issued several extensions to the reporting requirements of Foreign Bank and Financial Accounts (“FBAR”). For your reference, here’s a roundup of FBAR-related commentary and analysis from lawyers and law firms publishing their work on JD Supra: FBAR Filing Deadline for Extensions for Certain… Read more »