Publications

Practice note: Developing an Effective AML Compliance Program for Hedge Funds

February 12, 2008
Complinet

Few areas of compliance have seen the sustained level of activity that has come to characterize the government's efforts to prevent money laundering and terrorist financing since 9/11 and the subsequent enactment of the USA Patriot Act of 2001. The US Department of the Treasury's Financial Crimes Enforcement Network's proposed anti-money laundering program rules for hedge funds and their managers are still not final. Hedge funds and their managers in general have, however, as a matter of sound practice, adopted and implemented AML programs consistent with the proposed rules.