In a landmark regulatory move, the Financial Crimes Enforcement Network (FinCEN) has finalized its long-anticipated laundering and counter-terrorism financing (AML/CFT) rule for investment advisers. Effective January 1, 2026, the rule places registered investment advisers (RIAs) and exempt reporting advisers (ERAs) under Bank Secrecy Act (BSA)-style compliance obligations–ushering in a new era of heightened monitoring and reporting expectations across the advisory space.

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