Advisers Face AML Pressure From SEC Despite Lack Of Regs

Law360 (February 3, 2020, 6:06 PM EST) -- On Jan. 7, the U.S. Securities and Exchange Commission's Office of Compliance Inspections and Examinations announced its 2020 examinations priorities.[1]

Two of OCIE’s examination priorities — (1) anti-money laundering programs, and (2) increased examination coverage of registered investment advisers — are a shot across the bow for an industry already feeling increased AML compliance pressure before it formally has these regulatory obligations.

Recent enforcement actions, industry trends, and evolving products and services suggest this pressure will not be alleviated in the near future, regardless of the status of the final AML rules for registered investment advisers.

Status of Impending AML Obligations...

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