MMI Submits Comments to FinCEN on Proposed AML Program Rule for RIAs

On September 1, 2015, the Financial Crimes Enforcement Network (FinCEN), a bureau of the Department of the Treasury, published a notice of proposed rulemaking requiring investment advisers registered with the SEC to establish anti-money laundering programs (AML) and to report suspicious activity to FinCEN pursuant to the Bank Secrecy Act (BSA).