FinCEN Issues Notice of Proposed Rulemaking On Andorran Bank As “Primary Money Laundering Concern”

By | Subject to Inquiry | March 12, 2015
FinCEN Issues Notice of Proposed Rulemaking On Andorran Bank As “Primary Money Laundering Concern”

On March 10, 2015, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) named Banca Privada d’Andorra (BPA) a foreign financial institution of “primary money laundering concern,” a measure that will prohibit BPA from engaging in transactions with the U.S. financial system.

EBA Defines Requirements for Business Reorganisation Plans

EBA Defines Requirements for Business Reorganisation Plans

The Bank Recovery and Resolution Directive (BRRD) mandates the European Banking Authority (EBA) to develop draft regulatory technical standards (RTS) on the minimum elements to be included in a business reorganisation plan (the Plan) and on the minimum content of the implementation reports, and the guidelines on the criteria for the assessment of the Plan by the resolution authority, in agreement with the competent authority.