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The Investment Company Act of 1940 (commonly referred to as the '40 Act) is an act of Congress which regulates investment funds. It was passed as a United States Public Law ( Pub. L. 76–768 ) on August 22, 1940, and is codified at 15 U.S.C. §§ 80a-1 – 80a-64 .
The Anti-Money Laundering Improvement Act established national and international policies to prevent and combat money laundering and terrorist financing. [1]It protects the integrity of financial institutions by detecting money laundering activities, which involve converting illegally obtained funds into legitimate assets through complex transactions and disguising the proceeds as lawful funds.
The Money Laundering Control Act of 1986 (Public Law 99-570) is a United States Act of Congress that made money laundering a federal crime. It was passed in 1986. It consists of two sections, 18 U.S.C. § 1956 and 18 U.S.C. § 1957. It for the first time in the United States criminalized money laundering.
Two sections in subtitle B deal with the U.S. government's anti-money laundering programs and strategy. The BSA was amended by section 352 [31] to make financial institutions implement anti money laundering programs. Institutions must implement, at a minimum, the development of internal policies, procedures, and controls; the designation of a ...
Outgoing or Incoming International Electronic funds transfer over $10,000 CAD [7] within a 24-hour period; Cross border currency reporting; In 2009, FINTRAC estimated that the amount of money laundered on an annual basis is somewhere between $5 and $15 billion. [8] FINTRAC publishes annual results, quarterly updates, performance reports, and ...
The first anti-money laundering legislation in Bangladesh was the Money Laundering Prevention Act, 2002. It was replaced by the Money Laundering Prevention Ordinance 2008. Subsequently, the ordinance was repealed by the Money Laundering Prevention Act, 2009. In 2012, government again replaced it with the Money Laundering Prevention Act, 2012 ...
If an investor has multiple accounts at a failing brokerage, the $500,000 limit is not strictly applied per account, instead, the notion of "capacity" is used by the SIPC, and the $500,000 (or $250,000) limit is applied per capacity. Multiple accounts are aggregated into capacities. The list of capacities is: [18] Individual account; Joint account
In total, U.S. government economic bailouts related to the 2007–2008 financial crisis had federal outflows (expenditures, loans, and investments) of $633.6 billion and inflows (funds returned to the Treasury as interest, dividends, fees, or stock warrant repurchases) of $754.8 billion, for a net profit of $121 billion. [93]