Money Laundering, Terrorism and Financial Institutions - USA Patriot Act Monitor

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3/12/2005 USA PATRIOT Act Monitor News Release: Regulations Expected

The Financial Crimes Enforcement Network's 2004 Annual Report, now posted on the agency's website, indicates that regulations are to be proposed this year requiring anti-money laundering programs for loan and finance companies. Also AML program regulations for investment advisers, commodity trading advisors, insurance companies, unregistered investment companies (hedge funds), and dealers in precious metals, stones, and jewels are to be finalized in 2005. Also to be finalized will be suspicious activity reporting requirements for insurance companies and mutual funds. The 2004 Report will be analyzed in detail in the April 2005 Monitor.

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