FinCEN drafts anti-money-laundering rules for advisers

07/29/2013 |

The Financial Crimes Enforcement Network, part of the U.S. Treasury Department, is working on a proposal to require financial advisers to implement a procedure that prevents money laundering. Steve Hudak, FinCEN's head of public affairs, says a notice of proposed rule making could be published this year. "As with any complicated rule making, involving many stakeholders, the process can be unpredictable," he said.

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