WHITE PAPER: US agencies' Voluntary Self-Disclosure Policies Explained
31 Jul, 2023
Self-disclosing potential violations by companies can provide significant mitigation of civil or criminal liability, which may extend so far as a non-prosecution agreement or a reduction of 50 percent in the base penalty amount for civil or criminal penalties.
Disclosures also provide an opportunity for companies to alert key national security agencies about the activities that may pose a threat to the national security and foreign policy objectives of the United States.
On 26 July 2023, the US Department of Commerce, Department of the Treasury, and Department of Justice, published a Tri-Seal Compliance Note on recent updates that have been made to voluntary self-disclosure (VSD) policies that apply to U.S. sanctions, export controls, and other national security laws.
This paper analyzes the existing policies in place introduced by these three major US Government Agencies.
31 Aug, 2023
Federal Council Launches Consultation Procedure on a Bill to Strengthen the AML Framework
On 30 August 2023, the Federal Council launched a consultation procedure on a bill to strengthen the existing Swiss anti-money laundering framework.
19 Jul, 2023
Monaco Amends its AML Legislation
On 6 July 2023, the National Council of Monaco adopted a law amending previous AML legislative provisions based on the recommendations of the MONEYVAL Report.