All Treasury Department articles – Page 7
-
Article
What regulation would look like under Mnuchin’s Treasury Department
Steven Mnuchin, President Trump’s nomination for Treasury secretary, shares his regulatory worldview … but what does it mean for compliance? Joe Mont reports.
-
Blog
FinCEN expands crackdown on real estate shell companies
The Financial Crimes Enforcement Network will add San Francisco, San Diego, and San Antonio to a geography-based initiative demanding that title insurance companies identify who is behind shell companies used to pay all cash for high-end residential real estate. The initiative is already underway in Manhattan and Miami-Dade County. Joe ...
-
BlogPost ‘Panama Papers,’ Treasury sets rulemaking agenda
In the wake of the “Panama Papers” scandal, Treasury Department officials pledged a focus on issues related to shell companies and beneficial ownership. Making good on that promise, says Joe Mont, the agency has announced several actions, including: a customer due diligence final rule; proposed legislation on beneficial ownership, and ...
-
Blog
Crackdown on tax inversions blamed for killing Pfizer/Allergan merger
The Treasury Department has issued temporary and proposed regulations intended to limit the use of corporate tax inversions by undermining their benefits. Included are rules to address earnings stripping, a commonly used technique to further minimize taxes. Within hours of their issuance, pharmaceutical giant Pfizer terminated its $150 billion merger ...
-
Blog
Treasury Amends Russia and Ukraine Sanctions List
The Department of the Treasury’s Office of Foreign Assets Control yesterday designated and identified 34 new individuals and entities under four executive orders related to Russia and Ukraine. The updated sanctions list also provides several new lessons for compliance officers.
-
Article
U.S. and U.K. Treasury Revisit AML Risks
Image: For the first time in 10 years in the United States—and for the first time ever in the United Kingdom—financial institutions have some much-needed insight into how these two countries intend to prioritize money laundering and terrorist financing risks, enabling compliance officers to better allocate their limited resources. “These ...