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USA Patriot Act Regulations Regarding Persons Involved in Real Estate Closing and Settlements ( May 2003 )
The Treasury Department is continuing in its war against terrorism under the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act (USA Patriot Act) of 2001 (the "Act") and the related Bank Secrecy Act. The anti-money laundering sections of the Act require "financial institutions" to comply with certain reporting and record keeping functions established by the Act. -
Venture Capital Funds Need to Focus on Anti-Money Laundering Issues ( July 2002 )
Section 352(a) of the USA Patriot Act requires the U.S. Department of Treasury to direct every "financial institution" to establish an anti-money laundering (AML) program. At this time, Treasury has not yet imposed AML regulations on venture capital, private equity and hedge funds, but has indicated it will review and likely impose AML regulations on the venture capital industry by the end of October. -
Anti-Money Laundering Initiatives Under the USA Patriot Act ( June 2002 )
Title III of the USA PATRIOT Act, known as the International Money Laundering Abatement and Anti-Terrorist Financing Act of 2001, focuses on the anti-money laundering initiatives and includes several provisions that will have a direct impact on the investment management industry. -
Reporting Authority Appointed Under Money Laundering Legislation ( June 1999 )
The much awaited Reporting Authority has now been appointed pursuant to the Proceeds of Criminal Conduct Act, 1997 .
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