Global Association of Risk Professionals (GARP) features Braden Perry, among other experts, in an article regarding the Anti-Money Laundering Act extension. The Anti-Money Laundering Act of 2020 recently widened their scope by including news rules on trade in antiquities. This act has considerable financial industry support for provisions and brings more entities and transactions into
NextAdvisor spoke with Braden Perry, among other experts, regarding Regulation Z and how it applies to credit cards and other types of loans. Regulation Z, also known as the Truth in Lending Act, requires disclosures whenever consumers obtain certain types of loans, including mortgages, home equity loans, private student loans, home equity lines of credit,
Kyckr provides a single platform for critical source information to ensure regulatory compliance to companies and legal entities around the world. In a recent article, Kyckr interviews Braden Perry on the trends that will shape the future of KYC compliance. “What CEOs want out of CISOs is the ability to see the forest through the
The California Consumer Privacy Act gives residents the right to control where their personal information is stored and how it is used. Since passing back in 2018, other states have followed in California’s footsteps towards state data privacy laws, including Maine, Nevada, and Virginia. Other states have gone in a different direction. Maryland recently passed
As Citigroup Inc. attempts to recover $504 million it accidentally sent to asset managers for Revlon Inc., a 30-year-old legal precedent is making it difficult to get the half billion-dollar decision overturned. Last summer, instead of making an interest payment as administrative agent on the Revlon loan, Citibank paid the full outstanding $900 million out
Without looking it up, most people might guess that the Federal Motor Carrier Safety regulations (“FMCSRs”) apply only to companies operating 18 wheelers and large passenger buses. Those guesses would be wrong. The FMCSRs apply to all businesses with at least one “commercial motor vehicle” (“CMV”) under its operation. Though there are multiple definitions of
Operation CBDeceit now aims to crack down on CBD operators’ misinformation and mislabeling on products. This long-running concern, claiming that the drug treats medical conditions, is what the U.S. Federal Trade Commission (FTC) is attempting to rein in. In 2017, Penn University found that nearly 70% of extracts sold online were mislabeled and concluded the
In December of 2020, Coinbase announced it had filed preliminary private paperwork with the Securities and Exchange Commission to go public. Within days of this announcement, derivatives exchange FTX created a synthetic Pre-IPO futures contract that went as high as $317. At its peak, the exchange’s implied market cap hit a valuation of over $75
Last week, Citibank wrapped up its six-day trial after one of the biggest banking errors in recent memory. The error occurred when Citibank accidentally wired a payment of $900 million from its own pocket. Some recipients returned the funds, but Citibank had to sue for the remaining 500 million or so. The judge in the
Braden Perry, among other experts, was featured in an article on graffiti artists winning millions against a property owner due to the Visual Artists Rights Act. 21 Artists were awarded $6.75 million after their work at the iconic 5Poinz graffiti mecca was destroyed by the developer whitewashing the building to convert the property into high-end
A recent report about the potential laundering of trillions of dollars through the world’s largest banks demonstrates an ineffective regulatory system that is continuously abused by banks, with little chance of change unless direct action is taken by the government. Buzzfeed News pieced together decades of financial transactions and published their findings of its investigation.
An employee error caused Citigroup Inc. to mistakenly pay out over $900 million of its own money to a group of lenders. So far at least one of the lenders has given the money back, but the bank is suing 11 others including Brigade Capital Management, HPS Investment Partners, and Symphony Asset management. The case
