The Financial Crimes Enforcement Network, a bureau of the US Department of Treasury, proposed to amend its regulations under the Bank Secrecy Act to include funding portals within the definition of broker-dealer. This amendment, claimed FinCEn, is necessary because of provisions of the Jumpstart Our Business Startups Act that was adopted in 2012 that permit sales of certain new securities through a funding portal, bypassing traditional broker-dealers. Under the proposed amendments, funding portals would be required to implement certain anti-money laundering policies and procedures, including the filing of reports of suspicious activities. (Click here for details regarding crowdfunding securities offerings in the article, “SEC to Permit Capital Raising Through Crowdfunding” in the November 1, 2015 edition ofBridging the Week.)