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FinCEN Proposes AML Regulations for Investment Advisers
Wednesday, August 26, 2015 6:35 AM

The Financial Crimes Enforcement Network (FinCEN) yesterday proposed a rule requiring certain investment advisers to establish anti-money laundering (AML) programs and report suspicious activity to FinCEN pursuant to the Bank Secrecy Act (BSA).

FinCEN also proposed to include investment advisers in the general definition of “financial institution,” which, among other things, would require them to file Currency Transaction Reports (CTRs) and keep records relating to the transmittal of funds.

Review News Release

Review Proposed Rule