Subscribe to our InfoBytes Blog weekly newsletter and other publications for news affecting the financial services industry.
On April 27, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced amendments and reissued the Somalia Sanctions Regulations in its entirety to further implement an April 2010 Somalia-related executive order (E.O. 13536), and to implement a July 2012 Somalia-related executive order (E.O. 13620). The final rule “replaces the regulations that were published in abbreviated form on May 5, 2010 and includes additional interpretive and definitional guidance, general licenses, statements of licensing policy, and other regulatory provisions that will provide further guidance to the public.” Updates include new section 1(a) of E.O. 13536, as amended by E.O. 13620, which blocks, with certain exceptions, “all property and interests in property that are in the United States, that come within the United States, or that are or come within the possession or control of any United States person of: (i) the persons listed in the Annex to amended E.O. 13536; and (ii) any person determined by the Secretary of the Treasury, in consultation with the Secretary of State. . .to have engaged in acts that directly or indirectly threaten the peace, security, or stability of Somalia. . . .” The final rule takes effect April 28.
- Jonice Gray Tucker to discuss “How the new administration sets the tone for 2021” at the American Conference Institute Legal, Regulatory and Compliance Forum on Fintech & Emerging Payment Systems
- Sherry-Maria Safchuk to discuss UDAAP in consumer finance at an American Bar Association webinar
- Jeffrey P. Naimon to discuss "What to expect: The new administration and regulatory changes" at the Mortgage Bankers Association Legal Issues and Regulatory Compliance Conference
- Jonice Gray Tucker to discuss “The future of fair lending” at the Mortgage Bankers Association Legal Issues and Regulatory Compliance Conference
- Steven R. vonBerg to discuss "LO comp challenges" at the Mortgage Bankers Association Legal Issues and Regulatory Compliance Conference
- Michelle L. Rogers to discuss "Major litigation" at the Mortgage Bankers Association Legal Issues and Regulatory Compliance Conference
- Michelle L. Rogers to discuss “The False Claims Act today” at the Federal Bar Association Qui Tam Section Roundtable