Anti-money laundering (AML) requirements for Investment Advisers – what you need to know

The United States Treasury, through its Financial Crimes Enforcement Network (FinCEN) has gone beyond publishing its notice of proposed rulemaking by imposing the Anti-money laundering (AML) requirements to both the opening and closing of the comment period, moving closer to implementation. When adopted, covered registered investment advisers (RIA’s) will be required to: File currency Transaction Reports (CTR’s) and maintain detailed records of the transmittal; Implement and AML program crafted for their particular use; File Suspicious Activity Reports(SAR’s), where applicable; and Become [...]