Tag: AML
Agencies’ Regulatory Agendas Include AML, Cybersecurity, ESG, and More
Federal agencies have released updates to their regulatory agendas, which include several important new potential regulations for investment advisers, most notably regarding anti-money laundering, cybersecurity, and private fund advisers.
December 15, 2021
Tags: Money Market Funds, AML, CFTC, Custody, Cybersecurity, DOL, ESG, Private Funds, Proxy Voting, Regulatory Agendas, SEC Investment Management
Treasury is poised to revisit its 2015 proposal that would impose certain anti-money laundering requirements on advisers, following a Biden Administration report outlining a strategy to combat corruption and related crimes.
December 15, 2021
Tags: AML, Private Funds, Treasury Department
SEC Fines Adviser $1.75 Million for Failure to Protect Client Assets
The SEC has settled charges against a Nebraska-based SEC-registered adviser for failing to implement policies and procedures reasonably designed to prevent the misappropriation of funds from client accounts, which resulted...
July 07, 2021
Tags: AML, SEC Enforcement
OFAC Removes Limits on Financial Transactions with Sudan
OFAC has updated its regulations to remove limits on financial transactions with the Government of Sudan and Sudanese nationals. This follows rescission by the Secretary of State of the designation...
May 26, 2021
Tags: AML, OFAC, Treasury Department
Advisers Be Aware: New Law Changes AML Landscape
Updated March 11, 2021 While they do not directly affect investment advisers, advisers should be aware of provisions in the new Anti-Money Laundering Act of 2020 (AMLA), the most significant...
March 11, 2021
Regulators Issue Joint Statement on AML Obligations Related to Digital Assets
On October 11, leaders of the CFTC, FinCEN, and the SEC issued a joint statement reminding “financial institutions,” as defined in the Bank Secrecy Act (BSA), of their anti-money laundering...
December 17, 2020
Tags: AML, Digital Assets
Federal Agencies Issue Fall 2020 Regulatory Agendas; Custody Moves to Long-Term Agenda
Federal agencies recently released the fall 2020 update to their regulatory agendas. Each agency’s agenda is generally divided into four sections: (i) the pre-rule stage, which includes actions an agency...
December 21, 2020
Tags: AML, CFTC, Custody, SEC Investment Management
The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) released additional frequently asked questions (FAQs) about customer due diligence (CDD) requirements for covered “financial institutions” under the Bank Secrecy Act. The...
August 10, 2020
Tags: AML, Coronavirus, COVID-19, FinCEN
Fall 2019 Regulatory Agendas Released; SEC Moves Accredited Investor to Short-Term Agenda, Adds Form 13F Filer Threshold November 27, 2019 Federal agencies recently released the Fall update to their...
November 27, 2019
Tags: Advertising Rule, AML, CFTC, Custody, DOL, FinCEN, Regulatory Agendas
FinCEN and the federal banking agencies have issued a joint fact sheet to provide clarity to banks on due diligence requirements in connection with charities and non-profit organizations. FinCEN’s press...
November 24, 2020
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