AML/CFT Support for Investment Advisers
FinCEN’s anti-money laundering (AML) and countering the financing of terrorism (CFT) rule will require RIAs and ERAs to establish risk-based AML programs, appoint an AML compliance officer, and meet new reporting requirements such as Suspicious Activity Reports (SARs).
Fairview’s AML/CFT offering will help RIAs and ERAs meet these new requirements. Fairview will help firms establish an AML/CFT program by supporting the firm and its designated AML officer with the following services:
- Conduct a risk assessment
- Create policies and procedures tailored to the firm’s program
- Perform screening on clients and/or investors at the required frequency
- Prepare and facilitate employee training
- Assist with cash activity monitoring
- Provide guidance on SAR reporting, as needed
- Conduct and document the independent review of the adviser’s program which includes testing of policies and procedures and an evaluation of the firm’s implementation of their AML/CFT program
Other AML services include:
- KYC documentation review of incoming investors for private fund managers
- Customized institutional investor mandated sanctions screenings for private fund managers
