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.
2024-08-30T20:32:00Z By Aaron Nicodemus
The Treasury Department’s Financial Crimes Enforcement Network released new anti-money laundering requirements for U.S. investment advisers and real estate professionals that attempt to close loopholes that criminals and kleptocrats have long exploited.
2024-05-13T19:47:00Z By Aaron Nicodemus
The Securities and Exchange Commission and Financial Crimes Enforcement Network proposed a rule requiring registered investment advisers to implement customer identification programs, another facet of a coordinated attempt to close an apparent loophole in federal AML regulations.
2024-02-14T21:32:00Z By Jeff Dale
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.
2025-09-18T18:28:00Z By Adrianne Appel
About 125 federal regulations deemed anticompetitive by President Trump are poised for possible elimination, following recommendations delivered Wednesday to the Office of Management and Budget (OMB).
2025-09-15T16:47:00Z By Ruth Prickett
You can already buy a coffee with your phone, but soon you could start a job or buy a house with it. Digital compliance wallets holding certificates and documents on smartphones are gaining traction worldwide.
2025-09-10T23:26:00Z By Ruth Prickett
Delays to the U.K.’s Audit Reform and Corporate Governance Bill and creation of the ARGA regulator have sparked criticism. On Sept. 8, 66 MPs sent a letter to the Prime Minister urging reforms be returned to the Parliamentary agenda.
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