The Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) has today announced that it is delaying the application of the Bank Secrecy Act anti-money laundering requirements to investment advisers until January 1, 2028, instead of the previous date of January 1, 2026. FinCEN and the SEC will also be reviewing the scope of the rule as well as the associated Customer identification Program rule for investment advisers which has yet to be finalised.

AIMA is pleased that its advocacy work, which has included both written correspondence and meetings, has had such a positive outcome.