Jun. 30, 2016
Jun. 30, 2016
How FinCEN’s Proposed AML Rule Will Affect Hedge Fund Managers and Other Investment Advisers (Part One of Two)
After years of debate, regulators are poised to require registered investment advisers to implement anti-money laundering (AML) programs mirroring those of banks, broker-dealers and other financial institutions. Not since Dodd-Frank have investment advisers faced such meaningful change to the regulatory framework underlying their operations; they will have to create an infrastructure to facilitate formal compliance with AML rules, as well as suspicious activity reporting and information-sharing requirements that may be new to most advisers. In a two-part guest series, William P. Barry, Kimberly Versace and Jamie Schafer, partner, counsel and associate, respectively, at Richards Kibbe & Orbe, analyze the anticipated role of investment advisers in the U.S. AML regulatory framework. This article discusses the genesis and impact of proposed regulations that would apply to investment advisers. The second article will recommend steps investment advisers should take now to protect themselves in anticipation of the new regulations and ensure they can meet their AML compliance obligations. For more on the proposed AML regulations, see “How Hedge Fund Managers Can Establish an AML Program Under FinCEN’s Proposed Rule (Part One of Two)” (Nov. 5, 2015). For additional insight from practitioners at RK&O, see our two-part “Succession Planning Series”: “A Blueprint for Hedge Fund Founders Seeking to Pass Along the Firm to the Next Generation of Leaders” (Nov. 21, 2013); and “Selling a Hedge Fund Founder’s Interest to an Outside Investor” (Jan. 16, 2014).
Read full article …How Can Private Fund Managers Grant Preferential Rights? Delaware Chancery Court Decision Stresses Need for Fund Document Integration
Fees, Conflicts, Investment Allocations and Other Hot Topics Hedge Fund Managers Should Expect During an SEC Examination (Part Two of Two)
Expanded “Gatekeeper” Responsibilities May Impact Relationship Between Hedge Funds and Service Providers
SEC Continues to Focus on Insider Trading and Fund Valuation
C. Dabney O’Riordan Named Co-Chief of SEC Asset Management Unit
Most-Read Articles
-
May 11, 2023
A Practical Approach to Navigating the New Cybersecurity Legal and Regulatory Landscape -
May 11, 2023
SEC Remains Focused on Off-Channel Communications -
May 11, 2023
Key Differences Between U.S. and U.K. Marketing Rules and Tips for Dual Compliance (Part One of Two) -
May 25, 2023
Looking Beyond Blaszczak: Lessons for Hedge Fund Managers -
May 25, 2023
Reconciling Disparate U.S. and U.K. Requirements for Preparing and Delivering Non‑Standard Track Records (Part Two of Two)