A more expansive AML rule may be in the works for investment advisers

One could see how FinCEN’s delay on the effective date of its investment adviser AML rule is actually a nod to the SEC to take a role in its further development. FinCEN announced on July 21st that it intends to issue exemptive relief delaying the rule’s compliance date from January 1, 2026 to January 1, 2028. It appears that FinCEN now recognizes it needs the input from the SEC to revise the AML rule so…

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States could balk at taking on more firms to regulate (ThinkAdvisor)

The SEC may be considering transferring regulatory responsibilities of small and mid-size investment advisers to the states, but a number of states would likely resist this action. SEC Chairman Paul Atkins seems poised to move ahead with a plan to raise the $100 million assets under management threshold that requires SEC registration as an investment adviser. If that happens, thousands of firms below the new threshold could fall back to state regulation, with many states…

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