SEC-registered investment advisors would have to comply

Banks, mutual fund, insurance and security dealers share an affirmative obligation to comply with anti-laundering regulations by identifying their customers and reporting significant (over $10,000) transactions. In a proposed rule change announced yesterday, Treasury would extend monitoring and reporting requirements to all investment advisors, including hedge fund and private equity advisors, as well.   For an estimated 10,900-registered advisory firms, the proposed regulation will mean, at a minimum, two things… read on.