Posts tagged as:

AML

Congress to examine Hedge Fund AML Requirements Next Year

November 6, 2008

In an article yesterday we discussed the withdrawal of proposed rules which would require hedge funds to implement anti-money laundering compliance programs (see Hedge Funds and AML Requirements).  Yesterday Senator Carl Levin, a democrat from Michigan, released a statement condemning the withdrawal of proposed hedge fund AML rule by the Treasury.  Senator Levin statement said, [...]

Read the full article →

Hedge Funds and Anti-Money Laundering (AML) Requirements

November 4, 2008

Hedge fund managers are often confused about their anti-money laundering obligations and seem to receive different information from various sources.  In general domestic hedge fund managers do not have any AML obligations.  Additionally, it is unlikely that domestic hedge funds will be subject to any AML requirements in the near future. The rise of the [...]

Read the full article →

Hedge Fund Administrator – What is a Hedge Fund Administrator?

October 8, 2008

A hedge fund administrator is a service provider to the hedge fund; the main job of the administrator is to provide certain accounting and back office services to a hedge fund as detailed below. Hedge fund administrator services Generally administrators will provide a variety of services to the hedge fund manager.  The central service is [...]

Read the full article →

SEC cracks down on lax AML implementation

July 31, 2008

Yesterday the SEC ordered E*Trade to comply with the AML rules which requires brokers to know the identity of their clients. The order found that E*Trade did not verify the identities of 65,442 secondary accountholders. While this is a major breach of the AML rules, it also shows that the SEC is continuing to be [...]

Read the full article →