Considerations for FinCEN 314(a) Policies and Procedures
The Financial Crimes Enforcement Network (FinCEN) is a program under Rule 31 CFR Part 1010.520 that requires certain financial institutions to search their records and identify if they have responsive information with respect to the particular investigative subject. This provides a service to law enforcement by providing an additional layer to help locate financial assets and recent transactions of individuals, entities, and organizations engaged in or reasonably suspected, based on credible evidence, of engaging in terrorist acts or money laundering activities. Who is required to perform FinCEN reviews? Currently, only broker-dealers are subject to FinCEN program 314(a) requirements. Registered investment Read more about Considerations for FinCEN 314(a) Policies and Procedures[…]