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Abram Ellis Quoted in The Wall Street Journal on Proposal to Extend Anti-Money Laundering Rules to Investment Advisers
02.20.24
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Litigation Partner Abram Ellis was quoted in an article titled, “New Rules Will Force Buyout Firms to Flag Suspicious Investments,” which was published by The Wall Street Journal. The piece discussed the Treasury Department’s proposal to extend anti-money-laundering rules to investment advisers, which would require fund advisers to establish programs to prevent money laundering and keep records of customer cash flows. When discussing the impact this rule change may have on fund managers if finalized in its current form, Abram noted it seems to impose a significant cost on companies by requiring additional paperwork and needing to prove to regulators that their programs are up to snuff.
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