- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2024-02-13T21:15:00
The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) will propose categorizing investment advisers as financial institutions that must comply with the Bank Secrecy Act (BSA), including having an anti-money laundering (AML) program.
FinCEN issued a notice of proposed rulemaking (NPRM) on Tuesday that would apply to registered investment advisers (RIAs) with the Securities and Exchange Commission, as well as those who report to the SEC as exempted reporting advisers (ERAs).
Private funds advised by RIAs, such as hedge, private equity, and venture capital funds, held approximately $20 trillion in assets under management at the end of 2022, the Treasury said in an investment adviser risk assessment published Tuesday.
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Bank Secrecy Act reporting data disclosed by the Financial Crimes Enforcement Network revealed a significant spike in the use of cryptocurrency to finance human trafficking.
The Financial Crimes Enforcement Network issued a notice of proposed rulemaking that would require the handlers of all-cash residential real estate transactions in all U.S. cities and counties to disclose the beneficial owners.
The Financial Crimes Enforcement Network made several changes suggested by commenters to a new rule allowing limited access to its beneficial ownership information registry.
Mobile health applications and similar technology must notify customers following a data breach or risk violating the Federal Trade Commission’s Health Breach Notification Rule, under a broad update approved by the agency.
A commissioner at the Commodity Futures Trading Commission is calling for the agency to launch initiatives addressing the use—and misuse—of artificial intelligence tools in commodities markets.
Tens of millions of noncompete clauses included in employee contracts nationwide will be null and void by about Labor Day under a final rule issued by the Federal Trade Commission.
