Despite the focus on the current credit crisis, anti-money laundering (AML) compliance continues to be a high priority among regulators. In this month’s issue of @Regulatory, we’ve updated an article, originally published in our February 2006 issue, on the AML compliance environment for banks, broker-dealers, insurance companies, investment companies and investment advisors. Our second banking article offers guidance and foreclosure resources for consumers as provided by a number of government agencies and financial institutions. A look at elements of insider trading compliance programs and appropriate policies and procedures is explored in this month’s securities article. Finally, our investment management article highlights a number of the Securities and Exchange Commission’s recently re-proposed amendments for Part 2 of Form ADV. If adopted, these amendments would considerably alter the format delivery and content of the Form ADV brochure.  

We also have highlighted in our News Bulletins selected policy and supervisory guidance issues that are posing challenges across the banking, securities and insurance sectors.

Banking

• The Financial Stability Forum Issues Report to Re-establish Market Confidence
• Risk Management Guidance – Payment Processors
• Senate Banking Committee Passes the Federal Housing Finance Regulatory Reform Act of 2008

Securities

• Auction Rate Securities Partial Call

Insurance

• U.S. Treasury’s Blueprint for a Modernized Financial Regulatory Structure proposed Federal Insurance Regulatory Structure