Extra-territorial jurisdiction: USA expands it reach to non-US financial advisers.
Thursday, 12 September, 2024 - 01:46
In summary, subject to certain exclusions, any business anywhere in the world that has US citizens or companies as clients must comply with the requirements of The Bank Secrecy Act.
Further Reading:
Final Rule: https://www.federalregister.gov/documents/2024/09/04/2024-19260/financi…
Fact Sheet: https://www.fincen.gov/sites/default/files/shared/IAFinalRuleFactSheet-…
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