2018 SEC Examination Priorities: Anti-Money Laundering Programs

The Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) today announced its 2018 examination priorities. OCIE publishes its exam priorities annually to improve compliance, prevent fraud, monitor risk, and inform policy. Of particular interest this year will be matters involving critical market infrastructure, duties to retail investors, and developments in cryptocurrency, initial coin offerings, and secondary market trading.

This year, one of the five OCIE’s examination priorities is anti-money laundering programs. Examiners will review for compliance with applicable anti-money laundering requirements, including whether firms are appropriately adapting their AML programs to address their regulatory obligations.

Led by Certified Anti-Money Laundering Specialist (CAMS) Braden Perry, Kennyhertz Perry attorneys have broad BSA/AML experience across the spectrum of bank and non-bank financial institutions, including traditional chartered banks, broker-dealers, commodity trading advisors, money transmitters, non-bank lenders, and virtual currency businesses. We are experienced in counseling and drafting BSA/AML practices, policies, and procedures and can assist in any SEC examination or annual BSA/AML independent audit. Our combined knowledge and skill permits us to anticipate potential problems before they become serious issues and assist clients in responding effectively to regulatory and law enforcement criticisms or inquiries.

Kennyhertz Perry regularly counsels lenders, investment advisers, broker-dealers, and fund managers on the laws, rules, and regulatory developments affecting their business, including regulatory requirements, risk management, licensing and registration, sales and marketing practices and materials, manuals and training, day-to-day compliance.

Perry Discusses Apple’s iPhone Defenses with IDG News Service

Braden Perry, government enforcement and litigation partner with Kennyhertz Perry, LLC was again contacted by IDG News Service to discuss Apple’s defenses and their refusal to follow Judge Pym’s order requiring assistance to the FBI’s in its probe of the San Bernardino terrorist acts.  IDG News Service is the wire service representing PCWorld, Computerworld, MacWorld, Network World, CIO and dozens of other leading tech publications worldwide.

Apple recently raised its defenses in a court briefing, ranging from attacking the purposes of the All Writs Act, to the 1st and 5th Amendment arguments. Perry commented on the the overall  balancing the needs of law enforcement with the privacy and personal safety interests of the public, and the fact that the ” government needs a ‘compelling’ interest to force Apple to write new code,”  he said. Still, however, Apple faces an “uphill battle.”

Braden Perry Slated to Speak at CWAG’s 2016 Digital Currency Symposium

Kennyhertz Perry’s Braden Perry was invited to speak at the Conference of Western Attorneys General 2016 Digital Currency Symposium on February 4 and 5 in Park City at the Montage Deer Valley. CWAG will have 5 AG’s along with 9 of their senior staff representing 9 states and the District of Columbia attending the symposium. Mr. Perry will speak to this distinguished group on potential users of digital currencies, distributed ledgers and the Blockchain; and security and consumer protection issues related to digital currencies. The Digital Currency Symposium fosters relationships with responsible industry players, law enforcement officials and regulators with the goal of facilitating the sharing of information which will assist policy makers in the construction of regulatory and legislative interpretations beneficial to all involved.