Tag: Investment Advisors

The Bank Secrecy Act (BSA), passed by the US Congress in 1970, established the foundation for anti-money laundering (AML) compliance in the financial sector....

In an era where regulatory oversight of the wealth and asset management sector is intensifying globally, the stakes for compliance have never been higher. This sector, pivotal to national economies, plays a crucial role in helping consumers manage their assets and achieve their financial goals. However, its significance also makes it a potential target for misuse by malicious entities aiming to launder money.

The world of finance is on the brink of a significant transformation, especially for investment advisors in the United States. On February 15th, 2024, a pivotal announcement was made by the Financial Crimes Enforcement Network (FinCEN) that is set to redefine the landscape of anti-money laundering (AML) and counter-financing of terrorism (CFT) compliance.

The Monetary Authority of Singapore (MAS) has introduced a RegTech grant scheme and an enhanced digital acceleration grant (DAG) program to boost tech use in the financial sector.

DriveWealth, a New Jersey startup providing retail investors and ordinary consumers with access to the US stock market, is expanding its APIs to cater to investment advisors.