OPINION: If At First You Can't Regulate, Try, Try And Try Again
Law360, New York (October 18, 2016, 1:06 PM EDT) -- You'd think the government agency responsible for protecting the integrity of the U.S. financial system would take a do-over of its decisions seriously. But for the Financial Crimes Enforcement Network, it's never too late to squander a second chance to fumble through new regulation that is short on relevant facts and long on compromised accusations.
On Sept. 21, U.S. District Judge Christopher Cooper stayed FinCEN's final rule against Tanzania-based bank FBME Ltd. for the second time in less than a year. Among his biggest concerns: FinCEN did not allow FBME an adequate opportunity to respond to allegations of noncooperation, the agency...
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