• |

Jul. 3, 2024

FinCEN and SEC Issue Proposed Customer Identification Program Requirements for Investment Advisers

  • Rorie A. Norton and Hena Lees
    Anti-Corruption Report
In anticipation of the adoption of Financial Crimes Enforcement Network’s (FinCEN’s) proposed designation of certain investment advisers as “financial institutions” under the Banks Secrecy Act of 1970, FinCEN and the SEC recently issued a joint proposal (Proposed Rule) that would require those entities to implement customer identification programs. This article outlines the key features of the Proposed Rule and provides insights from industry experts about how it could impact fund managers’ overall AML compliance efforts.  See “Implications of the New E.U. AML Directive” (Jun. 5, 2024).

To read the full article

Continue reading your article with an ACR subscription.

Most-Read Articles

Spotlight on Trailblazing Women

To mark International Women’s Day 2024, women editors and reporters of ION Analytics interviewed outstanding women in the industries and jurisdictions we cover. In this part, Jill Abitbol, Managing Editor of the Cybersecurity Law Report and Anti-Corruption Report, features notable women in data privacy, cybersecurity, white collar defense, compliance and anti-corruption law, including Christina Montgomery, Leslie Shanklin, Palmina Fava, Alexandra Ross and Lucinda Low. Enjoy reading their inspiring remarks here.