Core Compliance℠ featured in NSCP’s Currents, the April 2015 Special Reprint edition.
In this article, we go in depth in an article detailing the current landscape of anti-money laundering. He reviews the regulations, the duties of investment advisers, industry trends, anticipated AML regulations, as well as considerations for advisers.
Introduction from NSCP Currents:
The Current Landscape of Anti-Money Laundering
Responsibilities of Investment Advisers
“If you ever find yourself in a room full of investment advsiers and are in need of a conversation starter, ask the following question: “Who believes that anti-money laundering (“AML”) regulations don’t apply to investment advisers?” The likely outcome will be a spirited debate with some taking the position that AML regulations do not apply to investment advisers, only to broker-dealers, while others may argue that AML safeguards are part of their fiduciary duty as an investment adviser and therefore there is an obligation to develop AML procedures. The answer to the question is the focus of this article, and will discuss current anti-money laundering regulations, duties owed by investment advisers and the anticipated changes that may be occuring in this area in the not-too-distant future.”
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