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SEC RIN: 3235-AN34 Publication ID: Spring 2024 
Title: ●Customer Identification Programs for Registered Investment Advisers and Exempt Reporting Advisers 
Abstract:

The Department of the Treasury and the SEC jointly issued a proposed rulemaking implementing section 326 of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 with regard to certain investment advisers. If, as proposed in a separate rulemaking, certain investment advisers are included in the definition of "financial institution" under the Bank Secrecy Act, section 326 will require the Secretary of the Treasury and the SEC to jointly prescribe a regulation that, among other things, requires investment advisers to implement reasonable procedures to verify the identities of their customers.

 
Agency: Securities and Exchange Commission(SEC)  Priority: Substantive, Nonsignificant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: Undetermined  Unfunded Mandates: No 
CFR Citation: Not Yet Determined     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: Pub. L. 107–56    31 U.S.C. 5311 et seq.   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  05/21/2024  89 FR 44571   
NPRM Comment Period End  07/22/2024 
Regulatory Flexibility Analysis Required: YES  Government Levels Affected: Undetermined 
Small Entities Affected: Businesses  Federalism: No 
Included in the Regulatory Plan: No 
International Impacts: This regulatory action will be likely to have international trade and investment effects, or otherwise be of international interest.
RIN Data Printed in the FR: Yes 
Agency Contact:
Thomas Strumpf
Branch Chief, Division of Investment Management
Securities and Exchange Commission
100 F Street NE,
Washington, DC 20549
Phone:202 227-0576