The Monetary Motion Activity Power, Know Your Transaction an intergovernmental group that seeks to fight money laundering around the globe, characterized the lack of anti-money laundering rules for investment advisers, similar to those that handle hedge funds and personal equity funds, as one of the United States’ most vital lapses in a report two years ago.
– accounts to buy, sell, lend, or in any other case hold securities, together with securities repurchase preparations;
– prime brokerage accounts that clear and settle securities transactions for shoppers;
– accounts for trading international currency;
– custody accounts for holding securities or other assets in connection with securities transactions as collateral; and
– over-the-counter derivatives contracts.
– Criminal offences round engaging in money laundering and/or helping others to launder the proceeds of crime;
– disclosure/reporting requirements in respect of suspicious actions/transactions;
– tipping off offences: making certain that legislation enforcement will not be hampered in its investigations by the topic of the suspicion changing into conscious of the allegations.