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Morgan Stanley is an American multinational investment bank and financial services company headquartered at 1585 Broadway in the Morgan Stanley Building, Midtown Manhattan, New York City. With offices in more than 42 countries and more than 60,000 employees, the firm's clients include corporations, governments, institutions, and individuals. Morgan Stanley ranked No. 67 in the 2018 Fortune 500 list of the largest United States corporations by total revenue.
The Financial Crimes Enforcement Network (FinCEN) is a bureau of the United States Department of the Treasury that collects and analyzes information about financial transactions in order to combat domestic and international money laundering, terrorist financing, and other financial crimes.
The Bank Secrecy Act of 1970 (BSA), also known as the Currency and Foreign Transactions Reporting Act, is a U.S. law requiring financial institutions in the United States to assist U.S. government agencies in detecting and preventing money laundering. Specifically, the act requires financial institutions to keep records of cash purchases of negotiable instruments, file reports if the daily aggregate exceeds $10,000, and report suspicious activity that may signify money laundering, tax evasion, or other criminal activities.
An escrow is a contractual arrangement in which a third party receives and disburses money or property for the primary transacting parties, with the disbursement dependent on conditions agreed to by the transacting parties. Examples include an account established by a broker for holding funds on behalf of the broker's principal or some other person until the consummation or termination of a transaction; or, a trust account held in the borrower's name to pay obligations such as property taxes and insurance premiums. The word derives from the Old French word escroue, meaning a scrap of paper or a scroll of parchment; this indicated the deed that a third party held until a transaction was completed.
Golden Gate University is a private, non-profit university in San Francisco, California. Founded in 1901, GGU specializes in educating professionals through its schools of law, business, taxation, and accounting. The university offers six undergraduate degrees with 11 concentrations and 15 graduate degrees with 24 concentrations.
In the United States, the ACH Network is the national automated clearing house (ACH) for electronic funds transfers. It processes financial transactions for consumers, businesses, and federal, state, and local governments. ACH processes large volumes of credit and debit transactions in batches. Short for "Automated Clearing House", ACH credit transfers include direct deposit for payroll, Social Security and other benefit payments, tax refunds, and vendor payments. ACH direct debit transfers include consumer payments on insurance premiums, mortgage loans, and other kinds of bills.
Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, consumer-finance companies, stock brokerages, investment funds, individual managers, and some government-sponsored enterprises.
The Western Association of Schools and Colleges (WASC) was an organization providing accreditation of public and private universities, colleges, secondary and elementary schools in California and Hawaii, the territories of Guam, American Samoa and Northern Marianas Islands, in addition to the Marshall Islands, Federated States of Micronesia, Palau, the Pacific Rim, Peru, and East Asia.
Lincoln University is a private university in Oakland, California.
In financial regulation, a Suspicious Activity Report (SAR) or Suspicious Transaction Report (STR) is a report made by a financial institution about suspicious or potentially suspicious activity. The criteria to decide when a report must be made varies from country to country, but generally is any financial transaction that does not make sense to the financial institution; is unusual for that particular client; or appears to be done only for the purpose of hiding or obfuscating another, separate transaction. The report is filed with that country's financial crime enforcement agency, which is typically a specialist agency designed to collect and analyse transactions and then report these to relevant law enforcement. Front line staff in the financial institution have the responsibility to identify transactions that may be suspicious and these are reported to a designated person that is responsible for reporting the suspicious transaction. The financial institution is not allowed to inform the client or parties involved in the transaction that a SAR has been lodged, otherwise known as tipping off under the Financial Action Task Force’s Recommendations.
The know your customer or know your client (KYC) guidelines in financial services require that professionals make an effort to verify the identity, suitability, and risks involved with maintaining a business relationship. The procedures fit within the broader scope of a bank's anti-money laundering (AML) policy. KYC processes are also employed by companies of all sizes for the purpose of ensuring their proposed customers, agents, consultants, or distributors are anti-bribery compliant, and are actually who they claim to be. Banks, insurers, export creditors, and other financial institutions are increasingly demanding that customers provide detailed due diligence information. Initially, these regulations were imposed only on the financial institutions but now the non-financial industry, fintech, virtual assets dealers, and even non-profit organizations are liable to oblige.
Perella Weinberg Partners L.P. is a global financial services firm focused on investment banking advisory services.
In the English language, banq and banc are coined words pronounced identically to the word "bank". Both terms have been adopted by financial services companies and others to satisfy legal restrictions on the usage of the word bank. The compound bancorp is often used in the names of bank holding companies. For example, a hypothetical chartered bank named Bank of Manhattan might form a holding company named "Manhattan Bancorp", and a sister insurance business named "Banc of Manhattan Insurance". One well-known past example was Bank of America's investment banking entity, named Banc of America Securities.
Northcentral University is a private online university with its headquarters in San Diego, California. It was established in 1996 and is classified among "D/PU: Doctoral/Professional Universities." NCU was acquired by the National University System in 2019.
California Southern University is a private, for-profit, university in Costa Mesa, California. It offers associate's, bachelor's, master's and doctoral degree programs online in psychology, business and management, risk management and regulatory compliance, criminal justice, nursing, and education.
Wells Fargo & Company is an American multinational financial services company with corporate headquarters in San Francisco, California, operational headquarters in Manhattan, and managerial offices throughout the United States and internationally. The company has operations in 35 countries with over 70 million customers globally. It is considered a systemically important financial institution by the Financial Stability Board.
The California Bureau for Private Postsecondary Education (BPPE) is a unit of the California Department of Consumer Affairs charged with regulation of private postsecondary educational institutions operating in the state of California.
The California Department of Corporations (DOC) was a department within the former California Business, Transportation and Housing Agency in California. The chief officer of the Department was the Commissioner of Corporations. Effective July 1, 2013, the Department of Corporations and the Department of Financial Institutions became divisions of the California Department of Business Oversight (DBO) pursuant to the Governor's Reorganization Plan No. 2 of 2012.
Ruth Porat is a British-American business executive, serving since 2015 as the chief financial officer (CFO) of Alphabet Inc. and its subsidiary Google. Porat was CFO and executive vice president of Morgan Stanley, from January 2010 to May 2015
The California Department of Financial Protection and Innovation (DFPI), formerly the Department of Business Oversight (DBO), regulates a variety of financial services, businesses, products, and professionals. The department operates under the California Business, Consumer Services and Housing Agency.
References
- ↑ Hoeffel, John; Reckard, E. Scott (22 September 2011). "State launches inquiry into bank's actions in Durkee fraud case". Los Angeles Times . Retrieved 16 November 2012.
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