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🎯FinCEN targets "Investment Advisers"
Plus: 🚨The FBI warns of Romance Scams
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Finance sits in the middle like the neck of an hourglass whose grains of sands are money and risk.
Chairperson, U.S. Securities and Exchange Commission, Gary Gensler
🎯FinCEN targets “Investment Advisers”
To keep criminals and foreign adversaries from exploiting the U.S. financial system and assets through investment advisers, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a Notice of Proposed Rulemaking (NPRM).
The proposed rule will require certain investment advisers to apply Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) requirements pursuant to the Bank Secrecy Act (BSA).
This will include: