SIFMA Submits Comments to the FinCEN on Special Measures on Certain Institutions of Primary Money Laundering Concerns

SIFMA submitted the attached comment letter to the Financial Crimes Enforcement Network of the U.S. Department of Treasury ("FinCEN") on the imposition of special measures against Halawi Exchange Co., Kassem Rmeiti Co. for Exchange, and Liberty Reserve S.A., as financial institutions of primary money-laundering concern.In the letter, SIFMA declared its support for FinCEN's efforts to detect and prevent money-laundering and the financing of terrorist activity, whether through the identified financial institutions or otherwise, and requested clarifications and modifications with respect to the proposed rules.

Click here to view SIFMA comment letter in full.