Is an AML Crackdown Coming for RIAs?
April 12, 2021 by Melanie Waddell
Welcome back to Human Capital. I’m Melanie Waddell, ThinkAdvisor’s Washington bureau chief.
This week the Securities and Exchange Commission’s exam division issued a risk alert detailing broker-dealers’ anti-money laundering compliance failures, specifically those related to filing suspicious activity reports. Ben Marzouk, an attorney at Eversheds Sutherland, tells Human Capital that recent chatter forewarns that likely incoming SEC Chairman Gary Gensler may revive a dormant AML policy plan for registered investment advisors.