Regulatory Alerts2015-11-27
Added
Re-opening of Comment Period and Availability of Supplemental Information for Imposition of Special Measure Against FBME Bank Ltd.
The Financial Crimes Enforcement Network re-opens the comment period for its Final Rule imposing the fifth special measure against FBME Bank Ltd. as a financial institution of primary money laundering concern, following a court injunction and voluntary remand. Written comments must be submitted on or before January 26, 2016, regarding unclassified documents supporting the rulemaking and whether alternatives to the prohibition on correspondent accounts would effectively mitigate risk. The agency specifically seeks input on whether special measures one through four or conditions under special measure five would serve as effective alternatives to the current prohibition.