Anti-Money Laundering

Significant holes in the framework of a Miami-based brokerage firm’s customer identification program have led to a $1 million penalty for anti-money laundering rules violations. ...

Respondent violated the federal securities laws by failing accurately to document its CIP procedures, comply with the Commission’s CIP Rule, or create and maintain the required ...

On January 19, 2016, the Financial Crimes Enforcement Network (FinCEN) issued an advisory announcing that the Financial Action Task Force (FATF) had updated its list ...

It’s been one year since we told you the story of Thomas Haider, the former CCO at MoneyGram, who was assessed a $1 million fine ...

Should FinCEN go ahead with its plan to require RIAs to have a risk-based AML program, the industry should get 18 months to comply and ...

NFA's exam found deficiencies in several facets of Amp's operations including its anti-money laundering (AML) procedures, its Risk Management Policy and the way the firm ...

FinCEN’s proposed AML rule for advisers appears in the Sept. 1 Federal Register, running 22 pages (IA Watch, Aug. 27, 2015). You now have until ...

This is the proposed rule that would require investment advisers to mandate an anti-money laundering program. This was proposed by FinCEN, a part of the ...

All SEC-registered investment advisers would have to create “a written risk-based AML program” should FinCEN’s new proposed rule be finalized. Thirteen years after initially proposing ...

This proposal would ensure there is a simple, consistent process surrounding the reporting workflows for cleared swaps. For example, the proposal would clarify the reporting ...