Anti-Money Laundering

In January, the SEC shouted from the rooftops that it remains laser-focused on money laundering and brokerage firms’ AML programs. The Commission’s 2017 exam priorities ...

In addition, regarding the same penny-stock transactions as well as others, Meyers Associates repeatedly violated Exchange Act Section 17(a), and Rule 17a-8 thereunder, by failing ...

A “listening tour” commenced last August by then new FINRA president/CEO Robert Cook will bear fruit this year. Based on feedback that broker-dealers would like ...

2004 was the first year that the SEC granted broker-dealers relief under Exchange Act rule 17a-8 (financial recordkeeping and reporting of currency and foreign transactions) ...

As to the reasonableness of a broker-dealer's reliance on an investment adviser, we understand that broker-dealers seeking to rely on the no-action position taken in ...

FINRA’s laser focus on the adequacy of broker-dealers’ anti-money laundering programs continues unabated. The SRO’s AML Investigative Unit identified “significant” AML program deficiencies during an ...

You’ve got a lot to worry about when it comes to staying alert to potential exploitation of your senior clients. Don’t overlook filing a Suspicious ...

Here’s an appealing anti-money laundering compliance model for a small broker-dealer. Focus on a few high-level objectives. Position your compliance officer within earshot of your ...

Yaffar-Pena knew of the existence of the affiliate account and that non-U.S. citizens were trading on their own behalf through the account. In her role ...

A dramatic increase in the fines reported by FINRA during the first-half of 2016 has the SRO poised to shatter its record-setting year of 2014 ...