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Topic: Anti-Money Laundering

OCIE Director on Anti-Money Laundering, Cybersecurity, Customer Funds

June 14, 2019
What do SEC examinations involving anti-money laundering, cybersecurity and protection of customer funds have in common? Examination efforts in these areas are examples of the agency protecting retail investors. So said SEC Office of Compliance Inspections and Examinations Director Peter Driscoll, who recently addressed the SIFMA Operations Conference in Boca Raton, FL.

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Compliance Officer Latest to Settle AML Charges in Aegis Capital Case

August 3, 2018
The SEC wants anti-money laundering rules followed – and will go after both firms and individuals at firms that it believes violate those rules. A compliance officer at a dually-registered adviser and broker-dealer learned this the hard way earlier this month after he allegedly failed to file Suspicious Activity Reports on hundreds of transactions.

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Associations Seek Changes in Proposed Anti-Money Laundering Rule

November 6, 2015
They all support anti-money laundering. They just differ with the government – and to some degree, with each other – on how to get there. The Investment Adviser Association, the Managed Funds Association and the Private Equity Growth Capital Council sent separate comment letters to the Treasury Department’s Financial Crimes Enforcement Network suggesting limits to various parts of its proposed anti-money laundering rule.

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Anti-Money Laundering Rule for Advisers Proposed by FinCEN

August 28, 2015
After more than 12 years of false starts, an anti-money laundering rule for advisers may just get through this time. The Treasury Department’s Financial Crimes Enforcement Network on August 25 issued an 86-page proposed rule that, if adopted, would require investment advisers to join banks, broker-dealers and other financial organizations in adopting an anti-money laundering program and filing suspicious activity reports.

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Anti-Money Laundering: Don’t Wait for the Rule to Create a Program

August 14, 2015
After years of false starts, a Treasury Department rule requiring investment advisers to create an anti-money laundering program may be on its way, but that doesn’t mean you should wait before adopting anti-money laundering policies and procedures. Even without a rule, the SEC expects advisers to have anti-money laundering programs in place. If you haven’t created one yet, do so now.

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AML Rule Inches a Step Closer

February 25, 2013
On February 13, Financial Crimes Enforcement (FinCEN) director Jennifer Calvery spoke again of the coming anti-money laundering (AML) rule for advisers.

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Anti-Money Laundering Rules for Advisers in 2013?

February 19, 2013
For years, Treasury’s Financial Crimes Enforcement Network (FinCEN) has been dangling the prospect of adopting anti-money laundering (AML) rules for advisers.

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SEC Extends Relief Allowing Broker-Dealers to Rely on Advisers for Certain AML Functions

February 19, 2013
On one hand, having no rule can be technically less expensive and a relief.

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