A White House-imposed halt on federal regulations probably will slow the finalization of certain anti-money laundering and sanctions rules indefinitely but won't entail significant revisions or long-term delays to others, say sources.
The U.S. Treasury Department on Tuesday proposed regulations that would require more than 11,000 investment advisers to better shield themselves from money laundering and terrorism financing.
The White House's budgetary office has approved a U.S. Treasury Department plan to require investment advisers to adopt anti-money laundering controls, including suspicious activity reporting.
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