FinCEN Withdraws AML Rule Proposals for Alternative Investment Entities

The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) announced on October 30 that it had withdrawn three rule proposals it put forward in September 2002 and May 2003.  We examine the background of the withdrawn rules, the reasons why they were withdrawn and the likelihood that they will resurface, in substance – and how all of this may affect hedge funds.

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