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Disapproval of Anti-Money Laundering Rules for Investment Advisers

This document is a Congressional proposal to reject new anti-money laundering and counter-terrorism financing rules that were intended to cover investment advisers. If Congress approves this proposal, investment advisers will not have to comply with these new requirements, which may affect how their finances are monitored.
Key points
Congress seeks to disapprove new anti-money laundering rules for investment advisers.
If approved, investment advisers will not be required to file suspicious activity reports, potentially impacting financial market oversight.
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Status:
Introduced
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Additional Information
Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Financial Crimes Enforcement Network relating to "Anti-Money Laundering/Countering the Financing of Terrorism Program and Suspicious Activity Report Filing Requirements for Registered Investment Advisers and Exempt Reporting Advisers".
Print number: HJRES 56
Sponsor: Rep. Clyde, Andrew S. [R-GA-9]
Process start date: 2025-02-12