Treasury Wants Funding Portals Added to Broker-Dealer Definition
Source: BFW (Bloomberg First Word)
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UUID: 7947283
(Bloomberg) -- U.S. Treasury’s Financial Crimes Enforcement Network wants to make sure funding portals have procedures “reasonably designed” to comply with requirements, agency says in statement.
Alert: HALISTER1- Treasury says change would allow access to “important reports and records that these businesses may provide to combat money laundering and terrorist finance”
- NOTE: Change would amend definitions, including in recent laws passed such as JOBS Act of 2012, that exclude portals
- Comments on proposed rule accepted until June 3
- Link to proposal
Source: BFW (Bloomberg First Word)
To de-activate this alert, click here
UUID: 7947283