Regulatory Alerts2003-05-05
Added
Anti-Money Laundering Programs for Commodity Trading Advisors
The Financial Crimes Enforcement Network proposes minimum standards for anti-money laundering programs for commodity trading advisors registered with the Commodity Futures Trading Commission that direct client commodity futures or options accounts. The proposed rule requires these entities to develop individualized programs including internal policies, a designated compliance officer, ongoing employee training, and an independent audit function. CTAs are permitted to exclude from their programs any investment vehicle they advise that is already subject to separate anti-money laundering program requirements under Bank Secrecy Act rules.
Topics
Share