In case you missed it, please see the attached Virtual Currency and Digital Asset Guidance for Financial Institutions issued by the Florida Office of Financial Regulation last Friday. FIBA is proud to have worked with the OFR on this guidance and continues to...
The Fed’s Plan to Shrink its Balance Sheet is a Risky Proposition Tuesday, July 11, 2017Posted by: Manuel Lasaga, Ph.D. At its June 2017 FOMC meeting, the Federal Reserve Bank (the Fed), approved a Plan aimed at reducing the size of the Fed, which currently...
Miami, Florida – June 19, 2017 – The Florida International Bankers Association (“FIBA”), is pleased and proud to inform its members and the public that Governor Rick Scott signed into law the revised Chapter 663 - International Banking Code. The legislation...
Thomson Reuters AccelusBrett Wolf, Regulatory Intelligence As Venezuela descends into chaos with protesters and security forces violently clashing in the streets of Caracas, antimony laundering compliance officers in Miami and elsewhere in the United States must...
International bank branches in Miami increased loans by $790.8 million, or 12.86 percent, in 2014. That’s a $338 million increase over the loan growth seen in 2013, despite ever-increasing compliance and regulatory requirements. Miami is seen as a hub of international...
FIBA Gets Clarification from FinCEN on MRB Reporting On June 22nd, FIBA received FinCEN’s response to its September 2020 request for guidance on the applicability of FinCEN’s 2014 guidance on BSA expectations surrounding Marijuana-related businesses (“MRB’s”). FIBA’s...
Despite the stalled emergence from the COVID-19 pandemic, courts and regulatory authorities continue to shape and impact the way cross–border financial business is done. Recently, OFAC, the Department of Justice, a New York federal district court, and the Second...
Please see the Alert from our member Holland & Knight regarding the Notice of Proposed Rulemaking (NPRM) for the Corporate Transparency Act (CTA) issued by FinCEN on December 7th. LARA will be meeting in January and, after an in-depth analysis, submitting a...
Please see the Alert from our member Greenberg Traurig regarding the Advanced Notice of Proposed Rulemaking (ANPRM) for certain persons involved in real estate transactions. LARA will be meeting in January and, after an in-depth analysis, submitting a comment letter...
With the recent explosion of cryptocurrencies and related businesses, regulators throughout the world are finding themselves increasingly under pressure to define the landscape. Stakeholders are now demanding appropriate legal frameworks that will provide protections...