U.S. Hedge Funds Face Foreign AML Mandates.

The article discusses anti-money laundering (ML) regulations that overseas regulators can use against the crime, even without the supporting hedge fund AML rule of the U.S. Financial Crimes Enforcement Network (FinCEN). The FinCEN rule was stalled at the proposal stage and there is no precise timetable as to the rule's approval, according to Gary Sutton, senior legal adviser for financial crimes at the U.S. Department of the Treasury. There are, however, international and foreign anti-AML rules in Great Britain and in the Caribbean Area.