FinCEN Withdraws Proposed Rulemaking against Lebanese Canadian Bank SAL

FinCEN Withdraws Proposed Rulemaking against Lebanese Canadian Bank SAL

FinCEN today withdrew its February 17, 2011 proposed rulemaking to impose the fifth special measure against Lebanese Canadian Bank SAL (LCB) as a financial institution of primary money laundering concern. Because of action taken by the Lebanese banking authorities and the liquidation of LCB’s assets, LCB no longer exists as a foreign financial institution. FinCEN therefore will not proceed with the proposed rule. For more information, please see http://www.fincen.gov/statutes_regs/frn/pdf/20150928.pdf.

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