Anti-Money Laundering Content

The Corporate Transparency Act, enacted in 2021 and effective January 1, 2024, requires certain entities to file reports with the Financial Crimes Enforcement Network identifying their beneficial owners, among other information. FinCEN adopted a rule in September 2022 to implement...

Last week, ICI sent a letter (linked below) to SEC Chair Gensler, requesting that the SEC (i) suspend the compliance dates for certain recent regulatory actions, (ii) halt work on not-yet-finalized rulemaking, and (iii) extend soon-to-expire relief that would have a significant impact...

For the thirteenth year in a row, the Securities and Exchange Commission's Division of Examinations has published its examination priorities for the coming year. While the Division has historically published these exam priorities near the beginning of the calendar year, this is the...

The Financial Crimes Enforcement Network, a bureau of the U.S. Department of the Treasury issued a final rule requiring certain investment advisers to establish anti‑money laundering/countering the financing of terrorism (AML/CFT) programs pursuant to the Bank Secrecy Act and to...

On June 28, the Financial Crimes Enforcement Network proposed amendments that would enhance anti-money laundering/countering the financing of terrorism program requirements for financial institutions already subject to AML/CFT requirements, including mutual funds. The Proposal is...

In May, the Securities and Exchange Commission (SEC) and the Financial Crimes Enforcement Network (FinCEN) jointly proposed new rules (Adviser CIP Proposal) requiring SEC-registered investment advisers and exempt reporting advisers (collectively, investment advisers) to establish...

On June 28, the Financial Crimes Enforcement Network proposed amendments that would enhance anti-money laundering/countering the financing of terrorism program requirements for financial institutions already subject to AML/CFT rules, including mutual funds.

On May 13, the Financial Crimes Enforcement Network and Securities and Exchange Commission proposed new rules (Joint CIP Proposal or proposal) requiring SEC-registered investment advisers and exempt reporting advisers (collectively, investment advisers) to establish Customer...

[35678] April 15, 2024 TO: ICI Members AML Compliance Working Group SUBJECTS: Anti-Money Laundering Compliance Intermediary Oversight Investment Advisers Operations Risk Oversight Transfer Agency RE: ICI Files Comment Letter on FinCEN Proposal regarding AML/CFT Program and Reporting...