AML Compliance Working Group
The AML Compliance Working Group provides input to FinCEN and/or other regulators with respect to their AML rulemaking and other activities. Seeks guidance from regulators on AML requirements that raise particular issues for mutual funds. Serves as a forum for discussion of members’ U.S. AML and Countering Terrorist Financing (“CTF”) programs, as well as select global AML/FATF matters. Includes representatives from the legal, compliance, transfer agency and operations areas.
Working Group Meetings
The AML Compliance Working Group holds one annual in-person meeting. In addition, the Group holds conference calls as needed to discuss current AML issues or challenges for mutual funds.
Membership Information
Each member firm may have one representative on the AML Compliance Working Group.
Committtee Members
Colleague Access
Colleague Access gives committee representatives the ability to designate co-workers (i.e., non‑committee members) to view committee memos and materials online, receive notification of memos addressed to the committee via ICI Digest and participate in committee calls and meetings.
As committees may deal with confidential policy topics involving draft comment letters and conference calls, ICI limits the number of colleagues per firm who can be designated for Colleague Access. Only committee representatives (not alternates or substitutes) can activate Colleague Access, and colleagues must be employed by the committee member’s firm.
AML Compliance Working Group representatives may designate a total of six individuals for Colleague Access.