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Compliance and Regulatory Alerts  |  02-14-24

FinCEN Proposes AML Requirements for SEC-Registered Investment Advisers and Exempt Reporting Advisers

FinCEN issued a Notice of Proposed Rulemaking (NPRM) Tuesday which would add SEC-registered investment advisers and exempt reporting advisers to the definition of financial institutions subject to the application of "Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) requirements pursuant to the Bank Secrecy Act (BSA), including implementing risk-based AML/CFT programs, reporting suspicious activity to FinCEN, and fulfilling recordkeeping requirements."

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How Bates Helps:

For financial institutions already subject to compliance with the AML/CFT requirements under the Bank Secrecy Act, Bates provides a wide range of AML Compliance services

For financial institutions impacted by proposed regulatory rules, Bates provides tailored, organization-specific assessments and implementation assistance once new compliance requirements are adopted.   


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