Category Archives: Anti-Money Laundering

Learn About the Exemption for Investment Advisers from New Beneficial Ownership Reporting Requirements

February 02, 2024

With the new requirements that corporations, limited liability companies and other entities report the identities of their beneficial owners to the Financial Crimes Enforcement Network (“FinCEN”), the chief compliance officer (“CCO”) of an investment adviser firm and sponsors of pooled investment vehicles should be aware that certain investment adviser firms and pooled investment vehicles are eligible for an exemption from FinCEN’s beneficial ownership reporting requirements.

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Investment Advisers May Be Required to Implement Anti-Money Laundering Policies and Procedures

December 05, 2011

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.

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