Lawmakers Aims to Block New Compliance Rules for Investment Advisers, Real Estate
Rep. Andrew Clyde, R-Ga., introduced two joint resolutions of disapproval Feb. 12 that would overturn a pair of rules developed by the Financial Crimes Enforcement Network.
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One rule, which takes effect Jan. 1, 2026, will make investment advisers subject to anti-money laundering and counter-terrorism financing requirements (see 2408290024). The other, which takes effect Dec. 1, 2025, will require certain real estate information to be reported to the agency, including about land and building transfers “that are a high risk for illicit finance.”
Both resolutions were referred to the House Financial Services Committee. The rules are among 13 Biden administration-era regulations Clyde is seeking to overturn because he deems them “costly” and “misguided.” Overturning all 13 rules would save about $105 billion, Clyde said, citing data from conservative think tank American Action Forum.