The Financial Crimes Enforcement Network issued a proposed rule to add investment advisers to the list of businesses classified as “financial institutions” under the Bank Secrecy Act.

Details: The proposed rule would apply anti-money-laundering and countering-the-financing-of-terrorism requirements to registered investment advisers, including suspicious activity reporting standards and recordkeeping requirements. It also would apply information-sharing provisions and delegate examination authority to the Securities and Exchange Commission.

Comment Deadline: Comments on the proposal are due by April 15.