November 2015
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) recently proposed new regulations that would require certain investment advisers to establish anti-money laundering (AML) programs and report suspicious activity to FinCEN under the Bank Secrecy Act (BSA). Other financial institutions are currently subject to the BSA, including mutual funds, broker-dealers in securities, banks and insurance companies. As proposed, all SEC-registered investment advisers would also be required to comply. If you are an investment adviser with current AML policies and procedures, you can stay apprised of these proposed regulations to determine what, if any, enhancements or changes you may need to adopt to ensure compliance. Read the news release from FinCEN at the link below:
