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.
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An investment adviser settled SEC charges for disclosing to investors, potential investors and industry contacts material non-public information in violation of the adviser's policies and procedures.
In a newly issued Fact Sheet, Treasury highlighted recent efforts to fight corruption and enhance its AML efforts.
The DOJ, OFAC, FinCEN and the CFTC settled enforcement actions against Binance, its CEO and former CCO. The coordinated settlements addressed charges against the digital asset exchange for CFTC registration failures and for violations of the Bank Secrecy Act and International Emergency Economic Powers Act sanctions programs.
In an annual report, the SEC Division of Examinations identified current risks for investors and registrants and highlighted key areas for examination in 2024.