A proposed, new rule from the US Treasury’s FinCEN unit – issued in February – closed its comments period on Wednesday. Since then, commentators have weighed in on the virtues and implications of the rule.
FinCEN’s proposed rule would require most investment advisers to:
- follow anti-money-laundering/combating-the-financing-of-terrorism (AML/CFT) requirements, including implementing risk-based AML/CFT