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.
2025-10-08T20:08:00Z By Ruth Prickett
Private companies that are keen to trade their shares but do not wish to become listed have gained another way to trade their shares. The U.K. government completed its initial review and published rules for the system in June.
2025-10-03T21:24:00Z By Adrianne Appel
While the Trump administration may have shifted away from pursuing small, white-collar, financial crimes, its focus on health care fraud cases is as hot as ever.
2025-10-01T21:10:00Z By Neil Hodge
The U.K’.s financial regulator has given a strong indication that financial firms’ use of unauthorized devices and apps is under scrutiny and that policies around off-channel communications need to be tightened up.
Site powered by Webvision Cloud