Anti-Money Laundering Rule for Advisers Proposed by FinCEN

After more than 12 years of false starts, an anti-money laundering rule for advisers may just get through this time. The Treasury Departments 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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