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AMLA for Broker-Dealers: A New Paradigm  

Author:  Sergio Alvarez-Mena.; Carly Roessler.

Source: Volume 54, Number 15, September 1 2021 , pp.177-184(8)

Review of Securities & Commodities Regulation

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In this article the authors discuss the effects of AMLA on broker-dealers, including the cross-border private wealth repercussions of the new law. They also focus on the difficulties for broker-dealers posed by FinCEN proposed regulations that would require them to have an effective and reasonably designed AML program as one that provides information with “a high degree of usefulness” to government authorities, consistent with the institution’s risk assessment and the risks communicated by relevant authorities as national AML priorities.

Keywords: Anti-Money Laundering Act of 2020 (“AMLA”)

Affiliations:  1: Jones Day; 2: Jones Day.

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