Ballard Spahr LLP reposted this
Please see the latest in Money Laundering Watch by Terence Grugan and Kaley Schafer on FinCEN's finalized AML regulations regarding investment advisers. According to FinCEN, "[t]hese requirements will . . . address the current uneven application of AML/CFT requirements across the investment adviser sector, which creates illicit finance risk and allows both legitimate and illicit investors to 'shop around' for an adviser who does not need to apply AML/CFT controls, such as inquiring into the investor’s source of wealth." https://lnkd.in/eg3Buw-X
