Publications
FinCEN Issues Final Rules Relating to Money Services Business (MSB) Definitions
April 2012
On July 21, 2011, the US Department of the Treasury's Financial Crimes Enforcement Network ("FinCEN") issued a final rule (the "MSB Rule"), revising the regulations regarding money services businesses ("MSBs"). The final rule clarifies which activities subject a person to the Bank Secrecy Act's ("BSA") rules pertaining to MSBs and subjects certain foreign-located MSBs with a US presence to the BSA rules.
Related Insights
Alerts
The US Securities and Exchange Commission (“SEC”) and the Commodity Futures Trading Commission (“CFTC”) have overhauled Form PF and private fund managers have until March 12, 2025, to begin reporting on the new Form. The changes to the reporting requirements mandated by the amendments to the Form (“Form PF Amendments”) will require substantial preparation by many managers.[1]
Alerts
The US Securities and Exchange Commission (“SEC”) and the Commodity Futures Trading Commission (“CFTC”) have overhauled Form PF and private fund managers have until March 12, 2025, to begin reporting on the new Form. The changes to the reporting requirements mandated by the amendments to the Form (“Form PF Amendments”) will require substantial preparation by many managers.[1]