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US HJR56
Joint Resolution
Status
2/12/2025
Primary Sponsor
Andrew Clyde
Click for details
AI Summary
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Congressional disapproval resolution under the Congressional Review Act targeting a Financial Crimes Enforcement Network (FinCEN) rule published September 4, 2024 (89 Fed. Reg. 72156)
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The targeted rule established anti-money laundering and counter-terrorism financing program requirements for registered investment advisers and exempt reporting advisers
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The rule also imposed suspicious activity report (SAR) filing requirements on these investment adviser categories
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If enacted, the resolution would nullify the FinCEN rule, rendering it without force or effect
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Introduced February 12, 2025 by Rep. Clyde and referred to the House Committee on Financial Services
Legislative Description
Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Financial Crimes Enforcement Network relating to "Anti-Money Laundering/Countering the Financing of Terrorism Program and Suspicious Activity Report Filing Requirements for Registered Investment Advisers and Exempt Reporting Advisers".
Finance and financial sector
Last Action
Referred to the House Committee on Financial Services.
2/12/2025