Casey Jennings, Seward & Kissel counsel and member of the Financial Services Regulatory Group and Blockchain and Cryptocurrency Group, and Kris Swiatek, counsel in the Investment Management Group, have been quoted in a FinOps Report article titled, “Private Fund Managers: Hello AML Compliance Officers.”

The article focuses on a proposed AML rule from the FinCen unit of the US Treasury that could saddle chief compliance officers (CCOs) at private fund management firms with the extra title of anti-money laundering compliance officer.

Casey is quoted stating the following: “Smaller registered fund managers or those exempt from reporting with the Securities and Exchange Commission might decide to give their chief compliance officers an extra title while larger firms might hire a dedicated professional.

Kris is quoted stating the following: “Fund managers will still have plenty of work to do even if fund administrators handle the bulk of AML tasks. “Fund managers will need to have greater oversight of their fund administrators and assign dedicated staff to do the monitoring.”

Click here to read the full article.

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Casey J. Jennings

(202) 661-7166
jennings@sewkis.com

Kris Swiatek

(212) 574-1670
swiatek@sewkis.com

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