Washington, D.C. — BPI Senior Vice President, Senior Associate General Counsel Gregg Rozansky issued the following statement today in response to FinCEN’s proposal to amend registered investment advisers’ anti-money laundering and Suspicious Activity Report reporting obligations.
BPI commends FinCEN for its proposal to require registered investment advisers to implement AML/CFT measures to bolster financial crime enforcement and reduce risk of abuse by money launderers, corrupt officials and other bad actors. Coverage of investment advisers under the Bank Secrecy Act should help to promote trust and transparency in the American financial system, and we strongly support this effort.
About Bank Policy Institute
The Bank Policy Institute (BPI) is a nonpartisan public policy, research and advocacy group, representing the nation’s leading banks and their customers. Our members include universal banks, regional banks and the major foreign banks doing business in the United States. Collectively, they employ almost 2 million Americans, make nearly half of the nation’s small business loans, and are an engine for financial innovation and economic growth.
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