Finance & markets · 20/11/2003

FinCEN Issues Amendments to Bank Secrecy Act Regulations, Expanding Financial Institution Definition to Include Futures Commission Merchants and Introducing Brokers

The Financial Crimes Enforcement Network (FinCEN) has released amendments to the Bank Secrecy Act regulations, requiring futures commission merchants and introducing brokers in commodities to report suspicious transactions, furthering the Department of the Treasury's counter-money laundering efforts.