SC Anti-Money Laundering Act

The South Carolina Anti-Money Laundering Act was enacted by signature of the Governor on June 9, 2016.  The effectiveness language of the Act states that it will go into effect upon one year after the Governor’s approval or upon the publication in the State Register of final rules implementing the Act, whichever occurs later.

The earliest the Act, including the registration provisions of the Act, could go into effect would be June 9, 2017.  However, the rulemaking will push that date further out.  At this time, the office is analyzing what rules would be appropriate to enforce the Act and cannot give a definitive timeline on effectiveness.

Once filed, you will be able to find notices of rulemaking, or the proposed rules themselves, by checking the State Register, which is published monthly and available at http://www.scstatehouse.gov/state_register.php

A link to the Act can be found here:  http://www.scstatehouse.gov/code/t35c011.php

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Columbia, SC

Rembert Dennis Building | 1000 Assembly Street,

Room 519 | Columbia, S.C. 29201

Phone: 1-803-734-3970 | Fax: (803) 253-6283

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