NFA Files Complaint against Introducing Broker for AML Program Deficiencies

The National Futures Association ("NFA") charged an introducing broker with failing to fully implement its anti-money laundering ("AML") program.

In the Complaint, NFA alleged that the introducing broker LBS Limited Partnership ("LBS") failed to (i) conduct an independent annual review of its AML program in 2016 and (ii) train two employees within a timely manner.

Following the proceedings, if found liable, the NFA may impose a fine of up to $250,000 per violation.