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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. |
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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 |
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Timetable:
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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 |