On August 28, 2024, the Financial Crimes Enforcement Network (FinCEN) issued a final rule to protect the U.S. financial system from illicit activity in the investment adviser sector. This rule targets criminals, foreign adversaries, and others attempting to exploit investment advisers to launder money or finance terrorism.
The rule requires certain registered investment advisers (RIAs) and exempt reporting advisers (ERAs) to comply with the Bank Secrecy Act (BSA). These …
