(Reuters) U.S. fund managers and other investment advisers would have to take steps to combat money laundering and report suspicious transactions to authorities under a long-awaited U.S. Treasury rule proposed on Tuesday. If made final the proposal by Treasury’s Financial Crimes Enforcement Network (FinCEN) would close a long-standing hole in the U.S. anti-money laundering net and lessen the burden on broker-dealers and other institutions long required to actively combat financial crime.
U.S. Rule Gives Investment Advisers Anti-Money Laundering Duty
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