Home > News & Insights > Insights & Publications

5/11/18 - 5th Pillar Of AML Compliance Is Here, But Questions Remain

Our securities team authored a Law 360 article on the Financial Crimes Enforcement Network’s customer-due-diligence rule and the Financial Industry Regulatory Authority’s amendment to its rule for anti-money-laundering compliance programs.

“The broad reach of the CDD rule, its amendment and some lingering interpretive issues have made it difficult for firms to operationalize the rule’s requirements while ensuring full compliance,” they wrote. “Many continue to struggle with implementation and are likely to look to industrywide regulatory developments, alerts, guidance and examinations — rather than enforcement actions — for clear, practicable expectations and best practices.”

Click here to read more.