FinCEN to Investment Advisers: Show Me the Money

A new FinCEN proposal is the latest attempt by the agency to impose anti-money-laundering requirements on investment advisers, with proposals failing to be adopted twice in the last 20 years, in 2003 and 2015. On February 13, 2024, FinCEN released a notice of proposed rulemaking soliciting comments on proposed regulations that would subject registered investment advisers and exempt reporting investment advisers to reporting requirements under the Bank Secrecy Act, with compliance required within 12 months from the effective date of a final rule.  

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