• Unregistered Investment Funds to Adopt Anti-Money Laundering Procedures
  • July 1, 2003 | Authors: R. Douglas Harmon; Beth R. MacDonald; Peter J. Shea
  • Law Firm: Parker Poe Adams & Bernstein LLP - Charlotte Office
  • On September 18, 2002, the Treasury Department issued five rules pertaining to financial institutions under the authority of the United and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 ("USA PATRIOT Act"). One of these is a proposed rule establishing anti-money laundering ("AML") program requirements for hedge funds and other unregistered investment companies.