Treasury Officially Publishes 2-Year Delay of New Compliance Rules for Investment Advisers
The Treasury Department officially published a rule this week delaying the effective date of new regulations that were set to make investment advisers subject to anti-money-laundering and counterterrorism financing requirements. The original final rule, which was issued in August 2024 and scheduled to take effect Jan. 1, 2026 (see 2408290024), will now apply starting Jan. 1, 2028. Treasury previewed the delay in July (see 2507240021).
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The delay will help the Financial Crimes Enforcement Network potentially "reduce any unnecessary or duplicative regulatory burden and ensure" that the new regulation "strikes an appropriate balance between cost and benefit -- while still adequately protecting the U.S. financial system and guarding against money laundering, terrorist financing, and other illicit finance risks," Treasury said. The agency is accepting public comments through Oct. 22.
Congressional Democrats said earlier this month that they’re concerned the Trump administration may weaken or rescind the rule (see 2509190038).