Last week, the Financial Crimes Enforcement Network, together with all of the federal functional regulators, jointly issued an Inter-Agency Advisory providing Guidance on Acceptance of Accounts from Foreign Embassies, Consulates and Missions (“Advisory”). The Advisory discusses various actions to be taken in mitigation of BSA/AML/OFAC risks associated with the acceptance and maintenance of such accounts, and discusses supervisory expectations in that regard.
To read a full copy of the Guidance, click here.
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This publication is for general information only. It is not legal advice, and legal counsel should be contacted before any action is taken which might be influenced by this publication. Should you wish to receive further information concerning matters discussed in this publication, please contact the following attorneys in our Banking & Financial Services Practice:
Clemente L. Vazquez-Bello
305.376.6082 ▪ [email protected]
Andres A. Fernandez
305.376.6097 ▪ [email protected]
Marina Olman
305.376.6069 ▪ [email protected]
Established in 1925, Gunster Yoakley is one of Florida’s oldest and largest full-service law firms. Its substantial and diversified practice serves an extensive client base of international, national and local businesses, institutions, local governments and prominent individuals. The firm maintains a strong presence in Florida with offices in Fort Lauderdale, Miami, Palm Beach, Stuart, Vero Beach, West Palm Beach, Jacksonville, and Tallahassee. Gunster Yoakley is home to more than 160 attorneys and 329 employees, providing counsel to clients through 18 practice groups including corporate, immigration, employment, technology and emerging companies, tax, banking and financial services, real estate, land use and environmental, business litigation, and private wealth services. |
