Sec. 113. Deadline for anti-money laundering rule for investment advisers

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Section 5312(a)(2) of title 31, United States Code, is amended— in subparagraph (Y), by striking or at the end; by redesigning subparagraph

(Z)as subparagraph (BB); and by inserting after subparagraph

(Y)the following: an investment adviser; . The Secretary of the Treasury shall— in consultation with the Chairman of the Securities and Exchange Commission and the Chairman of the Commodity Futures Trading Commission, not later than 270 days after the date of enactment of this Act, publish a proposed rule in the Federal Register to carry out the amendments made by this section; and not later than 180 days after the date of enactment of this Act, publish a final rule in the Federal Register on the matter described in paragraph (1). The final rule published under this section shall require, at a minimum, each investment adviser (as defined in section 202(a)(11) of the Investment Advisers Act of 1940 ( 15 U.S.C. 80b–2(a)(11) )) registered with the Securities and Exchange Commission pursuant to section 203 of that Act (15 U.S.C. 80b–3)— to submit suspicious activity reports and establish an anti-money laundering program under subsections

(g)and (h), respectively, of section 5318 of title 31, United States Code; and to comply with— the customer identification program requirements under section 5318(l) of title 31, United States Code; and the due diligence requirements under section 5318(i) of title 31, United States Code.

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15 USC 80b–2(a)(11)
15 USC 80b–3

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Sec. 113

Deadline for anti-money laundering rule for investment advisers

Cite15 USC 80b–2(a)(11)

Cite15 USC 80b–3

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