Bank Secrecy Act. Neither Company nor any Company Subsidiary has been notified of any supervisory criticisms or charges alleging noncompliance with the Bank Secrecy Act (41 USC 5422, et seq.) or related state or federal anti-money laundering Laws, regulations and guidelines, including without limitation those provisions of federal regulations requiring (a) the filing of reports, such as Currency Transaction Reports and Suspicious Activity Reports, (b) the maintenance of records and (c) the exercise of due diligence in identifying customers.
Bank Secrecy Act. The operations of the Company are and have been conducted at all times in compliance with (i) the requirements of the U.S. Treasury Department Office of Foreign Assets Control and (ii) applicable financial recordkeeping and reporting requirements of the Bank Secrecy Act of 1970 (the Currency and Foreign Transactions Reporting Act), as amended, including the Money Laundering Control Act of 1986, as amended, the rules and regulations thereunder and any related or similar money laundering statutes, rules, regulations or guidelines, issued, administered or enforced by any Federal governmental agency (collectively, the “Money Laundering Laws”) and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company with respect to the Money Laundering Laws is pending or, to the Company’s knowledge, after reasonable inquiry, threatened.
Bank Secrecy Act. Except as set forth in Seller’s Disclosure Letter, neither Seller nor any of its Subsidiaries has been advised of any supervisory concerns regarding their compliance with the Bank Secrecy Act (31 USC 5322, et seq.) or related state or federal anti-money laundering laws, regulations and guidelines, including without limitation those provisions of federal regulations requiring (a) the filing of reports, such as Currency Transaction Reports and Suspicious Activity Reports, (b) the maintenance of records and (c) the exercise of due diligence in identifying customers.
Bank Secrecy Act. The Bank Secrecy Act (BSA) and its implementing regulation require a financial institution to maintain records and/or report certain transactions to federal government agencies. The act and regulation have been amended periodically and focus on issues such as anti-money laundering and anti-terrorist financing.
Bank Secrecy Act. Neither Company nor Bank has been advised of any supervisory concerns regarding their compliance with the Bank Secrecy Act (31 USC 5322, et seq.) or related state or federal anti-money laundering laws, regulations and guidelines, including without limitation those provisions of federal regulations requiring (a) the filing of reports, such as Currency Transaction Reports and Suspicious Activity Reports, (b) the maintenance of records and (c) the exercise of due diligence in identifying customers.
Bank Secrecy Act. Each of the Credit Parties and each of their respective Subsidiaries are in compliance, in all material respects, with the Bank Secrecy Act (31 U.S.C. §§ 5311 et seq.), as amended by Title III of the Patriot Act, International Money Laundering Abatement and Anti-terrorism Financing Act of 2001.
Bank Secrecy Act. (1) Within thirty (30) days, the Board shall appoint a capable officer of the Bank who shall be vested with sufficient authority to monitor and ensure the Bank's compliance with the Bank Secrecy Act, suspicious activity reporting requirements, and the rules and regulations of the Office of Foreign Assets Control (OFAC). This compliance officer shall report directly to the Board and shall be completely independent of the Bank's management. This officer shall be responsible for the complete and timely filing of all reports required under the Bank Secrecy Act, as amended (31 U.S.C. Sec. 5311 - 5330) and the regulations promulgated thereunder at 31 C.F.R. Part 103, as amended (collectively referred to herein as the "Bank Secrecy Act"), and 12 C.F.R. Part 21, Subpart B, including but not limited to, Currency Transaction Reports (CTRs) and Suspicious Activity Reports (SARs).
(2) Within sixty (60) days, the Board shall develop, implement, and thereafter ensure Bank adherence to a written program of policies and procedures to ensure compliance with the Bank Secrecy Act and 12 C.F.R. Part 21, Subparts B and C. At a minimum, this written program shall establish:
(a) a system of internal controls and independent testing and auditing to assure ongoing compliance with the Bank Secrecy Act and 12 C.F.R. Part 21, Subpart B;
(b) operating procedures for the opening of new accounts and the monitoring of high risk accounts;
(c) adequate controls and procedures to ensure that all suspicious transactions and large currency transactions are identified and reported. Procedures should be comprehensive as to all points of cash entry and exit;
(d) procedures to ensure that records are maintained on monetary instrument transactions and funds transfers, as required by the Bank Secrecy Act; and,
(e) a comprehensive training program for all appropriate operational and supervisory personnel to ensure their awareness of and compliance with the requirements of the Bank Secrecy Act and the Office of Foreign Assets Control (OFAC), including the currency reporting and monetary instrument and funds transfer recordkeeping requirements, and the reporting requirements associated with Suspicious Activity Reports (SARs) pursuant to 12 C.F.R. Part 21, Subpart B.
(3) Upon completion, a copy of the program developed pursuant to this Article shall be submitted to the Director for Special Supervision/Fraud for review. In the event the Director for Special Supervision/Fraud recommends changes to the pr...
Bank Secrecy Act. Neither BDC nor JSB has been advised of any supervisory criticisms regarding their compliance with the Bank Secrecy Act (41 USC 5422, et seq.) or related state or federal anti-money laundering laws, regulations and guidelines, including without limitation those provisions of federal regulations requiring (i) the filing of reports, such as Currency Transaction Reports and Suspicious Activity Reports, (ii) the maintenance of records and (iii) the exercise of due diligence in identifying customers.
Bank Secrecy Act. Neither LSB nor Bank has been advised of any supervisory criticisms regarding their compliance with the Bank Secrecy Act (41 USC 5422, et seq.) or related state or federal anti-money laundering laws, regulations and guidelines, including without limitation those provisions of federal regulations requiring (i) the filing of reports, such as Currency Transaction Reports and Suspicious Activity Reports, (ii) the maintenance of records and (iii) the exercise of due diligence in identifying customers.
Bank Secrecy Act. PCBNA is in material compliance with the Bank Secrecy Act (12 U.S.C. §§ 1730(d) and 1829(b)) and all regulations promulgated thereunder, and PCBNA has properly certified all foreign deposit accounts and has made all necessary tax withholdings on all of its respective deposit accounts. PCBNA has timely and properly filed and maintained all requisite Currency Transaction Reports and other related forms, including, but not limited to, any requisite Custom Reports required by any agency of the United States Treasury Department, including, but not limited to, the IRS.
