Registered investment adviser may soon be required to monitor client accounts for money laundering activities. James Freis, the director of the U.S. Treasury’s Financial Crimes Enforcement Network (“FinCEN”), recently announced that FinCEN and the U.S. Securities and Exchange Commission (“SEC”) are working together to finalize anti-money laundering regulations that would apply to investment advisers. The proposed rule would likely require investment advisers to implement anti-money laundering policies and procedures and would also require them to report suspicious activity to the appropriate authorities.