Regulatory Initiatives

New FinCEN Rule: Long-Awaited AML Requirements for RIAs Is Here
ACAMS Connection, Badge Bulletin, Featured Column, Regulatory Initiatives

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As the registered investment advisery sector continues to grow, so do regulatory expectations. Effective in 2026, registered investment advisers (RIAs) will be considered “financial institutions” (FIs) according to a final rule recently issued by the Financial Crimes Enforcement Network (FinCEN). The final rule1 will require...
Due Diligence and Preventing the Illicit Use of the Financial System
ACAMS Connection, AFC Challenges, Exclusive, Global Financial Crime Review, Regulatory Initiatives

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The U.S. is one of the leading, most stable and secure economies in the world. As a result, huge numbers of entities want to place their money in U.S. financial institutions (FIs). This includes legitimate individuals and businesses, but it also includes money launderers, fraudsters,...
AI and the FDIC’s Disaster-related Regulatory Adjustment
December 2023 – February 2024, Regulatory Initiatives

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In September, the Federal Deposit Insurance Corporation (FDIC) decided to ease regulatory restrictions on banks and financial institutions (FIs), particularly in the context of disaster relief, an important and needed practice.1 Essentially, the FDIC extended the reporting time for risk conditions and the overall health...