View Rule

View EO 12866 Meetings Printer-Friendly Version     Download RIN Data in XML

TREAS/FINCEN RIN: 1506-AB66 Publication ID: Fall 2024 
Title: Customer Identification Programs for Registered Investment Advisers and Exempt Reporting Advisers 
Abstract:

FinCEN intends to issue a joint final rule with the Securities and Exchange Commission, implementing the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 with regard to certain investment advisers.  This rule requires registered investment advisers (RIAs) and exempt reporting advisers (ERAs) to implement reasonable procedures to identify and verify the identity of their customers, among other requirements, in order to form a reasonable belief that RIAs and ERAs know the true identity of their customers.

 
Agency: Department of the Treasury(TREAS)  Priority: Section 3(f)(1) Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: Yes  Unfunded Mandates: No 
CFR Citation: 31 CFR 1032   
Legal Authority: 12 U.S.C. 1829b    12 U.S.C. 1951 to 1960    31 U.S.C. 5311 to 5314    31 U.S.C. 5316 to 5336   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  05/21/2024  89 FR 44571   
NPRM Comment Period End  07/22/2024 
Final Action  03/00/2025 
Regulatory Flexibility Analysis Required: YES  Government Levels Affected: None 
Small Entities Affected: Businesses  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: Yes 
Agency Contact:
FinCEN Regulatory Support Section
Department of the Treasury
Financial Crimes Enforcement Network
P.O. Box 39,
Vienna, VA 22183
Phone:800 767-2825
Email: frc@fincen.gov