A Big Week for Bitcoin

pressLast week, FinCEN issued two administrative rulings clarifying that certain Bitcoin participants do not constitute money service businesses (MSBs) under the BSA.  The rulings furthered the guidance issued by FinCEN last March, which excluded from the definition of MSB users that obtain convertible virtual currency and use such convertible virtual currency to purchase real or virtual goods or services. In the Guidance, FinCEN established Users are not MSBs because they are not engaged in money transmission services.

Posted February 4, 2014 | by Braden Perry |in Bitcoins, News, Regulations

Critical Steps to CFPB Compliance

Customer Expressions, the training team for I-Sight Investigative and Case Management Software, recently turned to Braden Perry, a veteran government investigation and regulatory compliance attorney, to discuss the critical steps to Consumer Financial Protection Bureau (CFPB) compliance. The full article is provided below:

With the deadline looming for financial institutions to comply with the regulations set out by the Consumer Financial Protection Bureau (CFPB), financial services providers are (or should be if they aren’t) working hard to get their ducks in a row in time. CFPB compliance has become a burning issue.

Posted August 29, 2013 | by Braden Perry |in News

Braden Perry Speaks with Fiduciary News on 401(K) Plan Fees

Kennyhertz Perry’s Braden Perry recently spoke alongside other industry experts regarding 401(k) plan fees and the issues surrounding benchmarks. The article in full is as follows:

Every 401k plan sponsor wants to know the answer to this question. Every plan participant would benefit if their plan sponsor would know the answer to this question. Every industry reporter, analyst and pundit think they know the answer to this question. Every regulator knows there’s no right answer to this question.

Posted August 6, 2013 | by Braden Perry |in Compliance, News, Wealth Management