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FINRA Fines Company for Sales of Unregistered Penny Stocks and AML Violations

FINRA fined a company for improperly selling unregistered penny stocks and related supervisory failures, as well as for failing to implement appropriate anti-money laundering ("AML") policies and procedures. The company also will be required to retain an independent consultant to review its supervisory and AML systems procedures.

See: FINRA Press Release.

Tags

Regulated Activities
AML Compliance
Regulated Products
Penny Stocks / Small Caps
Body of Law
AML Regulation Securities Law
Jurisdiction
US - Federal
Organization
FINRA / MSRB / SEC Exchanges / SIPC / Accountants
Sub-Author
FINRA