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April 24, 2002 Deadline for Establishment of Anti-Money Laundering Programs

April 01, 2002

By 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.

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