What RIAs Need to Know About Proposed AML Rule

July 2017

As registered investment advisers (RIAs) await finalization of an anti-money laundering (AML) rule proposed in August 2015, how should they prepare? 
 
In short, if finalized, the rule would require RIAs to establish AML programs and report suspicious activity to the Treasury Department’s Financial Crimes Enforcement Network under the Bank Secrecy Act.
 
The rule also imposes other recordkeeping and reporting requirements like currency transaction reporting and travel rule recordkeeping.
 
Read the full details of the rule—including steps managers can take to ensure they’re ready to implement its requirements—here, as told by BDO’s Adil Raza in HFMWeek.