Data / Federal rules / 2024-10738
Customer Identification Programs for Registered Investment Advisers and Exempt Reporting Advisers
The Securities and Exchange Commission published this proposed rule in the Federal Register on May 21, 2024. Comments closed on July 22, 2024.
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What the agency says
The Department of the Treasury and the SEC are jointly issuing a proposed rulemaking implementing the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 with regard to certain investment advisers. If, as proposed in a separate rulemaking, certain investment advisers are included in the definition of "financial institution" under the Bank Secrecy Act, the Secretary of the Treasury and the SEC will be required to jointly prescribe a regulation that, among other things, requires investment advisers to implement reasonable procedures to verify the identities of their customers.
Key facts
- Document number
- 2024-10738
- Type
- Proposed rule
- Action
- Joint notice of proposed rulemaking
- Agency
- Treasury Department; Financial Crimes Enforcement Network; Securities and Exchange Commission
- Published
- May 21, 2024
- Comments due
- July 22, 2024
- Dates
- Written comments on this notice of joint proposed rulemaking ("NPRM") must be submitted on or before July 22, 2024.
- Docket
- Release No. BSA-1; File No. S7-2024-02
- Regulation ID (RIN)
- 1506-AB66; 3235-AN34
- Code of Federal Regulations
- 17 CFR 275; 31 CFR 1032
- Significant
- Yes, under Executive Order 12866
- Pages
- 27
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Everything from the Securities and Exchange Commission · Published in May 2024
Read from the Federal Register API, last updated 2026-10-23. The document on federalregister.gov is the official record; dates and dockets can change through later corrections. Free to reuse with credit to SpecStream under CC BY 4.0.