Heather Brown v. Barbara Schmitt - Court Opinion

The Court of Appeals of Georgia reviewed a fee award in Heather Brown v. Barbara Schmitt. The court affirmed the denial of certain attorney fees but reversed the award of others, finding that the conduct did not meet the legal standard for sanctionable conduct under OCGA § 9-15-14(b).

FATF Lists Iran, DPRK, Burma as High-Risk; Kuwait, PNG Under Monitoring

FinCEN is informing U.S. financial institutions of the Financial Action Task Force's (FATF) updated lists of jurisdictions with strategic AML/CFT/CPF deficiencies. Kuwait and Papua New Guinea were added to the 'Jurisdictions Under Increased Monitoring' list, while Iran, DPRK, and Burma remain on the 'High-Risk Jurisdictions Subject to a Call for Action' list.

Canaccord Genuity LLC - Enforcement Action

FinCEN announced an enforcement action against Canaccord Genuity LLC, citing violations of the Bank Secrecy Act. The action resulted in a consent order and a financial penalty. This action serves as a reminder of the importance of robust AML compliance programs for financial institutions.

FinCEN Fines Canaccord Genuity $80 Million for BSA Violations

FinCEN has assessed an $80 million civil money penalty against Canaccord Genuity LLC for willful violations of the Bank Secrecy Act (BSA). This is the largest penalty ever imposed against a broker-dealer for BSA violations, stemming from failures in anti-money laundering programs and suspicious activity reporting.

Geographic Targeting Order for Southwest Border MSBs

FinCEN has issued a Geographic Targeting Order (GTO) imposing recordkeeping and reporting requirements on certain Money Services Businesses (MSBs) along the Southwest Border. This order aims to enhance efforts against illicit finance and money laundering activities.

FDIC FAQ on Capital Treatment of Tokenized Securities

The FDIC, OCC, and Federal Reserve have issued an FAQ addressing the capital treatment of tokenized securities for FDIC-insured financial institutions. The guidance clarifies how ownership rights represented by distributed ledger technology are treated under existing capital rules and confirms the technology-neutral nature of these regulations.

Call Report Instructions for Q4 2025

The FDIC issued updated instructions for the Consolidated Reports of Condition and Income (Call Report) for the fourth quarter of 2025. The notice highlights the implementation of multifactor authentication for the Central Data Repository and provides submission deadlines for the December 31, 2025, report date.

FDIC Final Rule on Signs, Advertising, and Misuse of Name/Logo

The FDIC issued a final rule amending regulations on official signs, advertising, and misuse of the FDIC's name or logo for insured depository institutions. The rule provides additional flexibility for digital signage and ATMs while clarifying consumer protections, with a compliance date of April 1, 2027.

FDIC Amends Guidelines for Appeals of Material Supervisory Determinations

The FDIC is amending its Guidelines for Appeals of Material Supervisory Determinations by replacing the Supervision Appeals Review Committee with a new Office of Supervisory Appeals. This office will serve as the final review level for supervisory determinations and will also expand appeal rights to certain enforcement action cases.

FDIC Extends Comment Period for GENIUS Act Stablecoin Rulemaking

The FDIC has extended the public comment period for its proposed rulemaking concerning the GENIUS Act application procedures for stablecoin issuance. The comment period is now extended to May 18, 2026, providing additional time for FDIC-supervised institutions to submit feedback.