Insights
Client Alert
April 24, 2002 Deadline for Establishment of Anti-Money Laundering Programs
April 01, 2002
Investment Management Practice Group
On October 26, 2001, President Bush signed into law anti-terrorism legislation in the form of the USA PATRIOT Act of 2001. Among other things, the Act contains antimoney laundering provisions that require “financial institutions,” including all investment companies, to establish anti-money laundering programs to detect and prevent money laundering no later than April 24, 2002.