SEC Extends Relief Allowing Brokers to Rely on Advisers for AML Compliance

Earlier this year, the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) adopted rules imposing anti-money laundering obligations on advisers and proposed additional rules that would mandate further anti-money laundering obligations on advisers. The compliance date for the previously adopted rule has been recently extended, as has consideration of the proposed amendments.

On December 3, 2025, the Securities and Exchange Commission (SEC) extended previously issued no-action relief to brokers, permitting them to rely on the anti-money laundering activities of advisers. The extension runs to January 1, 2028. This action is widely viewed as indicating that both the previously adopted and proposed anti-money laundering rules for advisers will be adopted and become effective.