Suspicious Financial Transactions – If You See Something, Say Something Nov3

Posted by & filed under Compliance, Regulatory.

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By following the money trail, law enforcement can identify and dismantle international criminal networks, seizing the networks’ proceeds and related assets. ICE, along with other Department of Homeland Security component agencies, is charged with protecting the nation’s borders. One way ICE does this is by investigating the illicit flow of money in and out of the United States.

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Understanding Cryptocurrencies: Audit Considerations and Potential Regulations Oct20

Posted by & filed under Blockchain/Cryptocurrencies, Regulatory, White Papers/ Thought Pieces.

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Over the past six months, our Alternative Investment industry professionals at Richey May have seen a rapid uptick in activity in the cryptocurrency, or digital currency, space. Having been involved with these digital assets for a few years now, our tax and audit teams have developed insights into the unique challenges these assets present to both funds and investors – particularly key considerations that fund managers should understand prior to an audit, and how to mitigate risk to encourage investors

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SEC Cracks Down on Fraudulent ICOs in Latest Enforcement Action Oct13

Posted by & filed under Financial Fraud Watch, Regulatory, Technology.

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Two initial coin offerings (ICOs) were the target of a Securities and Exchange Commission (SEC) enforcement action filed on September 29. Based on the SEC’s descriptions, both ICOs, on their face, appear to be frauds, with marketing materials that allegedly contained multiple misleading and fraudulent statements. For those in the investment management space and those who personally participate in ICOs, this enforcement action serves as a reminder that due diligence is a necessary step before making an investment. Essentially, the two ICOs in question provide a roadmap of exactly how not to conduct an ICO

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New “T+2” Settlement Cycle – What Investors Need To Know Aug25

Posted by & filed under Regulatory.

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On March 22, 2017, the Securities and Exchange Commission amended Exchange Act Rule 15c6-1 to shorten the standard settlement cycle for broker-dealers transaction from “T+3” to “T+2,” subject to certain exceptions. The SEC’s Office of Investor Education and Advocacy (OIEA) is issuing this investor bulletin to explain the new “T+2” settlement cycle and how it will affect certain transactions you place with your full-service or online brokerage firm

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