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Ahead of expected anti-money laundering regulations for investment advisers, some private equity firms may find themselves subject to such oversight for a reason few would have guessed: their fee structures.
Over 11,000 investment advisers could be subject to compliance examinations by one or more self-regulatory organizations, under a measure considered by lawmakers Wednesday.
In the wake of the recession, compliance departments are grappling with implementing more regulations with fewer resources, a former bank regulator says.
It took over a year of negotiations but plans to impose EU anti-money laundering rules on U.S. hedge funds and private equity firms have officially been dropped, according to a European directive adopted Thursday.
Plans by the U.S. Treasury Department to revamp regulatory oversight of financial institutions will likely spur on efforts to impose anti-money laundering compliance requirements on hedge funds, say consultants.
U.S. lawmakers will likely vote to implement anti-money laundering and other controls on hedge funds in the wake of the alleged multi-billion dollar Ponzi scheme by Bernard Madoff, say consultants.
