May 14, 2024
With each new proposal you make it more complicated for RIAs to do business. Is this proposal rooted in a widespread problem that will surely be fixed by adding more onus on RIAs? How likely is it that a person seeking to launder money would 1) use a financial advisor and /or 2) not be able to falsify documents and ID?? This will do very little to solve any problem, but will have a significant impact on businesses. With respect, please stop thinking up new RIA requirements for the sake of it and without any regard to RIAs.