The High Points: SARs and the Three Tiered Framework for MRBs
As green states continue to grow, intentional or unintentional exposure to Marijuana Related Business (“MRB”) customers for financial institutions and broker-dealers is an inevitability. Whether your business has decided to actively shoulder the risk of allowing MRB customers in pursuit of the…
Accuracy Counts: Filing Complete and Accurate SARs and Program Specific Red Flags Related to Covid-19 Criminal or Fraudulent Activity
On September 29, 2020, at the 19th Annual AML & Anti-Financial Crime Conference, Financial Crimes Enforcement Network (“FinCEN”) Director Kenneth Blanco reported over 91,000 suspicious activity reports (“SARs”) have been filed related to Covid-19 criminal and fraudulent activity. These 91,000…
COVID-19/Wastewater: Michigan Establishes Surveillance Grant Program
September 22, 2020
by Walter G. Wright, Jr.
The Michigan Department of Environment, Great Lakes, and Energy (“EGLE”) announced the creation of a pilot COVID-19 wastewater surveillance grant program. The $10 million grant will fund local public health department efforts to: . . . coordinate with counties, universities, and other institutions…
COVID-19/OSHA Enforcement: Shreveport, Louisiana Health System Cited for Alleged Violations
September 16, 2020
by Walter G. Wright, Jr.
The Occupational Safety Health Administration (“OSHA”) issued a September 10 news release stating it cited Christus Shreveport- Dossier Health System (“System”) for alleged violations. OSHA states that it cited the Shreveport, Louisiana system for allegedly failing to ensure employees wore…
How COVID-19 Has Affected Tax-Exempt Bonds
First published on ArkansasBusiness.com. The COVID-19 pandemic has changed the landscape for many of us, including issuers of tax-exempt bonds. Many state and local governments rely on tax-exempt bonds to fund major projects for their communities. In order to remain compliant as well as identify…