Treasury issued a final rule requiring certain investment advisers to establish an AML/CFT Program and file certain reports, such as Suspicious Activity Reports (SARs), with FinCEN (Final Rule).
The Final Rule applies to...more
9/11/2024
/ AML/CFT ,
Bank Secrecy Act ,
Customer Due Diligence (CDD) ,
Customer Identification Program (CIP) ,
Final Rules ,
FinCEN ,
Investment Adviser ,
Notice of Proposed Rulemaking (NOPR) ,
Policies and Procedures ,
Registered Investment Advisors ,
Suspicious Activity Reports (SARs) ,
U.S. Treasury
The Proposed Rule would require registered investment advisers (RIAs) and exempt reporting advisers (ERAs) to establish, document and maintain written customer identification programs (CIPs).
The Proposed Rule comes...more
6/5/2024
/ AML/CFT ,
Bank Secrecy Act ,
Beneficial Owner ,
Customer Identification Program (CIP) ,
Exempt Reporting Advisers (ERAs) ,
Financial Services Industry ,
FinCEN ,
Investment Adviser ,
Notice Requirements ,
Proposed Rules ,
Recordkeeping Requirements ,
Securities and Exchange Commission (SEC)
The Anti-Money Laundering Act of 2020 (AML Act), enacted on January 1, 2021 as part of the National Defense Authorization Act for Fiscal Year of 2021 (NDAA), makes several significant changes to U.S. anti-money laundering...more
2/23/2021
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Beneficial Owner ,
BSA/AML ,
Customer Due Diligence (CDD) ,
Disgorgement ,
Financial Crimes ,
Financial Institutions ,
FinCEN ,
NDAA ,
New Legislation ,
Pooled Investment Vehicles ,
Regulatory Agenda ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Suspicious Activity Reports (SARs) ,
Whistleblowers
Recent enforcement actions brought by the U.S. Government against non-U.S. banks for violations of U.S. sanctions laws demonstrate the need for financial institutions, particularly those that act as custodians or financial...more
1/30/2014
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Banks ,
Compliance ,
FinCEN ,
Foreign Banks ,
Iran ,
ITSR ,
Office of Foreign Assets Control (OFAC) ,
Sanctions ,
U.S. Treasury