The U.S. Treasury has proposed a rule that all mutual fund companies be required to report any suspicious financial transactions, hoping to net drug dealers, terrorists and launderers, according to the Associated Press.

The new rule, published in the Federal Register Thursday, requires mutual funds to file such reports within 180 days of such suspicious transactions involving $5,000 or more.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.