Top Lines From the stage of the ‘Consensus 2022,’ House Financial Services Committee Ranking Member Patrick McHenry (R-NC) called for passage of bipartisan stablecoin legislation this year. McHenry said a bill should start in the House which could be sent to the Senate for end of the year (November/December) action. He concluded this would have to be […]
Sanctions Watch Roundup: June 7 – June 15, 2022 June 17, 2022 Bottom Line Up Front Russian sanctions expansion continued to slow, with most activity around the issuance of guidance and general licenses. There is a building confrontation between some in Congress and the Biden Administration over both Cuba and Venezuela sanctions policy. While we […]
Dana advises clients on compliance matters, including project management and new program development. Dana has extensive experience with anti-money laundering (AML) and sanctions compliance, including Know Your Customer (KYC), enterprise and customer risk assessment, transaction monitoring, suspicious activity reporting, and training.
Prior to joining FS Vector, Dana worked within BDO USA’s risk and regulatory practice where she advised a range of financial institutions, from growth stage fintechs to large depositories. She also worked in Wells Fargo’s financial institutions group and as an investigator at HSBC.
Dana received her B.A. from Central Connecticut State University and her J.D. from Northeastern University School of Law.
Chris advises financial services firms and their partners, focusing on regulatory compliance, risk management, and product development. He has helped dozens of firms by constructing operating models for effective governance, assessing risks and controls, and designing processes that integrate emerging technologies and advanced analytics, with a particular expertise in anti-money laundering (AML) and economic sanctions. […]
Top Lines Senators Cynthia Lummis (R-WY) and Kirsten Gillibrand (D-NY) announced the introduction of the bipartisan Lummis-Gillibrand Responsible Financial Innovation Act (the “RFIA”). If enacted in its current form, the RFIA will be the first comprehensive federal legislation to tackle cryptocurrency, blockchain, and digital assets across almost all aspects of the regulatory spectrum. The RFIA addresses the […]
Sanctions Watch Roundup: May 15 – June 6, 2022 June 9, 2022 Bottom Line Up Front Russian sanctions expansion has slowed in recent weeks as the Administration continues to wrestle with a series of expiring general licenses for Russia. The buildout from the Administration on Russia sanctions may slow a little more, but may also […]
Top Lines Lawmakers in New York passed a bill to ban certain bitcoin mining operations that run on carbon-based power sources. The measure now heads to the desk of Governor Kathy Hochul, who could sign it into law or veto it. If Hochul signs the bill, it would make New York the first state in the country […]
Top Lines Acting Comptroller of the Currency Michael Hsu discussed vulnerabilities in the cryptocurrency framework and recent volatility with stablecoins in remarks at the Chamber of Digital Commerce’s DC Blockchain Summit 2022. In his remarks, the Acting Comptroller discussed the fragmented ecosystem of cryptocurrency, risk of contagion, and underdeveloped custody and ownership rights. He also emphasized the […]
Top Lines The Consumer Financial Protection Bureau (CFPB) issued an interpretive rule that describes states’ authorities to enforce federal consumer financial protection laws. Weekly Wrap Up Using distributed ledger technology (DLT) to cut the cost of cross-border payments requires regulators to stop looking at individual entities like banks, and start looking at the whole decentralized network, a working paper produced […]
Sanctions Watch Roundup: May 1 – May 15, 2022 May 19, 2022 Bottom Line Up Front Expect a continuing buildout on Russia sanctions and additional North Korea sanctions that may implicate China or other entities. While sanctions and related provisions have not been included in the Ukraine supplemental package, Congress has passed multiple Ukraine-related sanctions […]