Jesse Weissman

Jun 13, 2024 | mondaq.com | Melissa Goldstein |Betty Santangelo |Kyle Hendrix |Jesse Weissman

On May 13, 2024, the US Department of the Treasury's Financial Crimes Enforcement Network ("FinCEN") and the Securities and Exchange Commission ("SEC") jointly issued a notice of proposed rulemaking ("CIP Proposed Rule") that would apply customer identification program ("CIP") obligations to investment advisers registered with the SEC ("RIAs") and exempt reporting advisers ("ERAs") (collectively, "Covered Advisers").1 The CIP Proposed Rule would require Covered Advisers, among other things,...

Oct 12, 2023 | lexology.com | Donald J Mosher |Betty Santangelo |Melissa Goldstein |Kara Kuchar |Adam J. Barazani |Jessica Romano | +3 more

On Oct. 8, 2023,[1] California Governor Gavin Newsom signed AB-1116[2] into law, which amends certain provisions of California’s Money Transmission Act (Cal. Fin. Code §§ 2000, et seq.) (“MTA”) to align with the Model Money Transmission Modernization Act (“Model Law”).[3] The amended MTA will become effective on Jan. 1, 2024.