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The U.S. Treasury Department on Tuesday proposed regulations that would require more than 11,000 investment advisers to better shield themselves from money laundering and terrorism financing. The proposal by the Financial Crimes Enforcement Network (FinCEN) would define firms that manage $100 million or more in assets as "financial institutions" under the Bank Secrecy Act. Much like securities broker-dealers and banks, the companies would have to report suspicious activity and implement other anti-money laundering (AML) controls under the plan. The draft rule, however, would not immediately impose customer identification program (CIP) and customer due diligence (CDD) requirements on the firms, FinCEN...