The SEC and FinCEN Request Comments on their Proposed Rule on Customer Identification Programs for Registered Investment Advisers and Exempt Reporting Advisers The Securities and Exchange Commission ( ...

The CIP Proposal complements—and was foreshadowed by—FinCEN’s February 2024 proposal to impose anti-money laundering (“AML”) compliance program obligations on SEC Advisers (the “AML Proposal”). As we ...

We collaborate with the world's leading lawyers to deliver news tailored for you. Sign Up for any (or all) of our 25+ Newsletters. Some states have laws and ethical rules regarding solicitation and ...

Modern customer identification regulations are not only outdated, but actually contribute to a rise in identity crimes. New threats posed by identity fraud today have made the federal Customer ...

The Bank Secrecy Act/Customer Identification Program (BSA/CIP) requires a risk assessment of each member account. While we can define these requirements, actually implementing the necessary processes ...