• USA Patriot Act Legal Alert: Treasury Issues Proposed Rule for Mutual Fund SAR Reporting
  • July 23, 2003
  • Law Firm: Sutherland Asbill & Brennan LLP - Washington Office
  • On January 21, 2003, the U.S. Treasury Department published a notice (the "Release") of a proposed rule ("Proposed Rule") in the Federal Register, which, if adopted as proposed, would require open-end investment companies ("Mutual Funds") to file suspicious activity reports ("SARs") with the Financial Crimes Enforcement Network ("FinCEN"). The comments on the Proposed Rule must be submitted to the Treasury Department no later than March 24, 2003.