FinCEN and SEC Anti-Money Laundering/Counter Terrorist Financing Notice of Proposed Rulemaking
In the ever-evolving world of regulatory compliance, staying ahead of the curve is crucial. The Financial Crimes Enforcement Network (FinCEN) and the Securities and Exchange Commission (SEC) recently proposed a new rule that would extend certain anti-money laundering (AML) and countering the financing of terrorism (CFT) program requirements to Registered Investment Advisers (RIAs) and Exempt Reporting Advisers (ERAs). This article explores this update.