Though anti-money-laundering (AML) regulations for hedge funds have stalled at the proposal stage in the U.S., funds opening branches abroad can find themselves exposed to other regions' rules.
Gary Sutton, the U.S. Treasury Department's senior legal adviser for financial crimes, said that the Financial Crimes Enforcement Network's (FinCEN) hedge fund AML rule "was first proposed on Sept. 18, 2002 for unregistered investment companies." As to making those rules final, "there isn't a precise timetable," he said at an Institute for International Research AML conference last year in New York.
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