Compliance.ai’s automatic topic classification allows you to quickly deduce whether a newly published document applies to your focus area, while also ensuring that a related document isn’t overlooked, even if it is published by an agency you don’t normally track.
The Bank Secrecy Act / Anti-Money Laundering rules (BSA/AML) require U.S. financial institutions to assist the U.S. government in detecting and prevent money laundering and fraud. Money Laundering includes the concealment of the origins of illegally obtained money, typically involving bank transfers. Fraud includes deception intended to result in financial gain.
This topic includes regulation of blockchain technology which is a peer-to-peer digital ledger of transactions that may be publicly or privately distributed to all users (and therefore is said to be decentralized and distributed), and specifically addresses cryptocurrencies, a subset of virtual currency and digital currency that is protected by cryptography and predominantly generated and exchanged using blockchain.
A broker-dealer is a natural person, a company or other organization that engages in the business of trading securities for its own account (as a dealer) or on behalf of its customers (as a broker). By definition, broker-dealers are buyers and sellers of securities, and they are also distributors of other investment products. Broker-dealers fulfill several important functions in the financial industry. These include providing investment advice to customers, supplying liquidity through market making activities, facilitating trading activities, publishing investment research and raising capital for companies. Broker-Dealers are mainly independent firms or subsidiaries of commercial banks, investment banks, or investment companies.
The practice of funding a project or venture by raising small monetary contributions from multiple investors, typically through an online platform. The funds may be provided in exchange for a) loan repayment (with or without interest), b) equity, c) other “rewards,” like an invite to a product launch.
Cybersecurity refers to the protection of electronically-stored information. This may also include the protection of computers, electronic communication systems, electronic communications services, wire communication, and electronic communication, including information contained therein, to ensure its availability, integrity, authentication, confidentiality, and nonrepudiation.
Insurance is providing financial protection, or reimbursement, against specific types of losses, and is a form of risk management. It is primarily governed by state laws, and includes life insurance, health insurance, automobile insurance, general liability insurance, commercial liability insurance, homeowners’ insurance, title insurance, etc. Regulations related to deposit insurance, the Employee Retirement Income Security Act (ERISA), and government social programs, are not included in this topic
A payday loan (aka “small dollar loan” or “deferred deposit transaction”and “deferred presentment transaction” or “payday advance”) is a short-term loan, often for $500 or less; repayment is typically due on the borrower’s next payday. When a borrower takes out a payday loan, he typically has to give the lender access to his checking account or write a post-dated check for the full balance that the lender can deposit when the loan is due.
Includes securities and derivatives. A security is an investment of money in a common enterprise with an expectation of profits that results solely from the efforts of others. This may include any note, stock, security future, security-based swap, bond, debenture, evidence of indebtedness, certificate of interest or participation in any profit-sharing agreement, collateral-trust certificate, preorganization certificate or subscription, transferable share, investment contract, voting-trust certificate, certificate of deposit for a security, fractional undivided interest in oil, gas, or other mineral rights, any put, call, straddle, option, or privilege on: any security, certificate of deposit, or national securities exchange relating to foreign currency.