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".

Bill: 119-hjres-56
Sponsor: full_name: Rep. Clyde, Andrew S. [R-GA-9]
Introduced: 2025-02-12
Policy area: Finance and Financial Sector
Latest action: action_date: 2025-02-12
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2025-02-12
action_desc: Introduced in House
text: <p>This joint resolution nullifies the final rule issued by the Financial Crimes Enforcement Network (FinCEN) titled <em>Anti-Money Laundering/Countering the Financing of Terrorism Program and Suspicious Activity Report Filing Requirements for Registered Investment Advisers and Exempt Reporting Advisers</em> and published on September 4, 2024. The rule expands existing anti-money laundering and counterterror financing requirements (e.g., reporting suspicious financial activity to FinCEN) to include certain investment advisers.</p>

tv_txt: IA 119th CONGRESS 1st Session H. J. RES. 56 IN THE HOUSE OF REPRESENTATIVES February 12, 2025 Mr. Clyde submitted the following joint resolution; which was referred to the Committee on Financial Services JOINT RESOLUTION 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 .

That Congress disapproves 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 (89 Fed. Reg. 72156 (September 4, 2024)), and such rule shall have no force or effect.