An SEC and CFTC joint final rule adopting amendments to Form PF will go into effect on March 12, 2025. The final rule was published in the Federal Register.
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The SEC permitted an associated person, who had been subject to statutory disqualification, to effect security-based swaps after he had (i) paid a penalty, (ii) completed a number of remedial requirements and (iii) maintained a clean record.
FinCEN proposed to include "investment adviser" in the definition of "financial institution" under the Bank Secrecy Act. The proposed rule would require advisers to implement AML/CFT programs and maintain recordkeeping requirements.
In a joint final rule, the SEC and CFTC adopted amendments to Form PF that require more information on private funds.
The OCC, FRB and FDIC requested comment on a set of rules as part of a process to identify "outdated" or "unnecessary" regulatory requirements on insured depository institutions and their holding companies.