Compliance and Regulatory Alerts | 02-14-24
FinCEN Proposes AML Requirements for SEC-Registered Investment Advisers and Exempt Reporting Advisers
![FinCEN Proposes AML Requirements for SEC-Registered Investment Advisers and Exempt Reporting Advisers](/images/jcogs_img/cache/alert_tag-2_-_28de80_-_93226ee6057cef89c0fdb63c58164521e3a3cb2b.png)
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."
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.