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Abram Ellis Quoted in The Wall Street Journal on FinCen Anti-Money Laundering Proposal
04.22.24
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Litigation Partner Abram Ellis was quoted in a Wall Street Journal article titled, “Private-Fund Lobbyists Push Back on Expanding Money-Laundering Checks,” which discussed FinCen’s proposal to extend anti-money-laundering rules to investment advisers and the conclusion of the public comment period for the new rule. Abram noted that if FinCen puts the proposed rule into effect, private-equity firms will have to document their anti-money-laundering programs and answer questions about them during annual regulatory exams. He further explained, “The new rule would potentially require new record-keeping requirements, new reporting requirements, and extensive new examinations by the Securities and Exchange Commission.”
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