Improving the Waiver Process and Rules Governing Certain Disqualifications Under the Federal Securities Laws
SIFMA provided comments to the U.S. Securities and Exchange Commission (SEC) requesting that it take necessary steps to improve the…
Summary
Court:
U.S. Court of Appeals
(First Circuit)
Amicus Issue:
Whether the safe harbor provision of the Bank Secrecy Act provides unqualified protection to a financial institution and its employees from civil liability for filing a Suspicious Activity Report (SAR), or whether a financial institution and its employees must have a good faith belief that a possible violation of law occurred before filing a SAR.
Counsel of Record:
Skadden, Arps, Slate, Meagher & Flom LLP
Colleen P. Mahoney
James R. Carroll
Alisha Q. Nanda
Immanuel R. Foster
Other Amici:
None
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FSOC Improvement Act 2025 (Joint Trades)
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