Anti-Money Laundering

When entering into a new line of business, it’s critically important to update your P&Ps to address any attendant risks associated with the new business. ...

This matter concerns the failure by VFM, a registered broker-dealer, to file Suspicious Activity Reports (“SAR” or “SARs”) for voluminous suspicious activity relating to the ...

How serious are authorities about anti-money laundering compliance?   Serious enough to file the first-ever criminal charge against a broker-dealer for violating the Bank Secrecy ...

Where we last left the legal challenge by Alpine Securities Corp., the clearing broker was contesting a judge’s ruling that the SEC has legal authority ...

Failures in the anti-money laundering programs of UBS Financial and UBS Securities have resulted in triple jeopardy for the firms and a total of $15 ...

For the second year running, FINRA has flagged issues its examiners are finding with broker-dealers’ anti-money laundering programs. The SRO’s 2018 Report on FINRA Examination ...

These proceedings arise out of the failure of Central States Capital Markets, LLC (“Central States”), a registered broker-dealer, (1) to file Suspicious Activity Reports (“SARs”) ...

The dual registrant's AML program was not reasonably designed to account for the risks associated with these additional services used by customers in their ...

Accordingly, the Division will not recommend enforcement action to the Commission under Exchange Act Rule 17a-8 if abroker-dealer treats an investment adviser as if it ...

A too narrow interpretation about requirements surrounding the disclosure of customer complaints resulted in LPL Financial failing to file or amend registered reps’ Forms U4 ...