In a precedent-setting victory for the rights of all property owners, the U.S. Supreme Court yesterday held that landowners have a right to direct, meaningful judicial review if the U.S. Environmental Protection Agency effectively seizes control of their property by declaring it to be “wetlands.”
FinCEN releases electronic form for registration of Money Services Businesses (MSBs)
The new report facilitates registration for all money services businesses (“MSBs”) electronically, including foreign-located MSBs and providers of prepaid access.
Increased use of Suspicious Activity Reports in private litigation raises confidentiality concerns
The use of SARs in private litigation has increased and, as a result, FinCEN is concerned external counsel of financial institutions may be unfamiliar with the regulations covering SAR confidentiality.
FinCEN seeks comments on proposed rule on how financial institutions collect account ownership info
FinCEN expresses its concern that there is a lack of uniformity and consistency in the way various financial institutions address their customer due diligence obligations ….
H-1B visa petitions for nonimmigrant workers accepted April 1 until quota met
Employers who desire to hire H-1B aliens should consult with immigration counsel as soon as possible to file before the statutory quota is reached, which has occurred as early as the first day of the filing cycle in years past.
New advisory for financial institutions’ obligations vis-a-vis foreign-located Money Service Business
Financial institutions may find it necessary to update their anti-money laundering programs if they provide financial services to foreign-located MSBs or engage in financial transactions with these entities.
SEC’s No-Action Letter is good news for pre-IPO companies
On February 13, 2012, the Securities and Exchange Commission issued a No-Action Letter to the Fenwick & West LLP law firm. This No-Action Letter is good news for private companies that are approaching the statutory 500 shareholder limit.
Family Wealth Compass: Charting a course for your family’s future (February 2012)
Gunster’s most recent Family Wealth Compass newsletter, prepared by our Private Wealth Management Services Group, may be of interest to you and your high-net-worth clients.
President Obama signs new executive order blocking the property interests of the Iranian government, financial institutions
Previously, U.S. financial institutions receiving instructions to execute transactions involving the government of Iran were not required to block the transactions.
Tax refund fraud and identity theft become high priorities as tax season approaches
Now that it’s tax season, taxpayers must educate themselves about identity theft. Here are 7 suggestions to help reduce your risk of falling victim to tax refund fraud.