- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2024-02-13T21:15:00
The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) will propose categorizing investment advisers as financial institutions that must comply with the Bank Secrecy Act (BSA), including having an anti-money laundering (AML) program.
FinCEN issued a notice of proposed rulemaking (NPRM) on Tuesday that would apply to registered investment advisers (RIAs) with the Securities and Exchange Commission, as well as those who report to the SEC as exempted reporting advisers (ERAs).
Private funds advised by RIAs, such as hedge, private equity, and venture capital funds, held approximately $20 trillion in assets under management at the end of 2022, the Treasury said in an investment adviser risk assessment published Tuesday.
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The Treasury Department’s Financial Crimes Enforcement Network released new anti-money laundering requirements for U.S. investment advisers and real estate professionals that attempt to close loopholes that criminals and kleptocrats have long exploited.
The Securities and Exchange Commission and Financial Crimes Enforcement Network proposed a rule requiring registered investment advisers to implement customer identification programs, another facet of a coordinated attempt to close an apparent loophole in federal AML regulations.
Bank Secrecy Act reporting data disclosed by the Financial Crimes Enforcement Network revealed a significant spike in the use of cryptocurrency to finance human trafficking.
New rules on cyber risk management across the EU put execs firmly in the crosshairs for noncompliance and are likely to apply to a wider range of organizations than many business leaders may initially think. However, there are also concerns that the rules may become muddled across the wide bloc. ...
New rules that push IT firms providing “critical” services to the U.K.’s financial sector to share more data about cyberattacks and resiliency measures have been welcomed by industry experts. However, concerns remain over how suppliers will be classified and how key data might be gathered and shared.
As Donald Trump begins his transition to become president, there are questions about the fate of tech companies, as well as regulators from multiple administrations. Google in particular is fighting a high-profile antitrust ruling after an investigation started by Trump in 2020 could be resolved in his next administration.
