"The rules seek to address what the Biden administration and others have characterized as critical gaps in the U.S. financial system's safeguards through which criminals and other nefarious actors can move illicit money."
"Together, the two rules represent some of the most significant changes to the U.S.'s anti-money-laundering framework in decades. The rules will make it harder for criminals to exploit our strong residential real estate and investment adviser sectors," Treasury Secretary Janet Yellen said.
"The Financial Crimes Enforcement Network said it modified some aspects of its proposals in response to the feedback. In the final version of the investment adviser rule, the Treasury bureau exempted several types of advisers from the anti-money-laundering requirements."
#anti-money-laundering #investment-advisers #real-estate #financial-regulations #biden-administration
[
Collection
]
[
|
...
]