A firm settled FINRA charges for failing to implement adequate systems to review suspicious activity in customer accounts, conduct independent testing of its AML program and provide reasonable training to employees responsible for implementing the program.
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A convertible note financing business and its owners settled SEC charges for failing to register as a securities dealer.
The SEC charged a firm and its sole officer for failing to register as a dealer in connection with its "convertible notes business."
The SEC charged a broker-dealer for failing to file suspicious activity reports regarding OTC trades of low-priced securities. The SEC alleged the trades constituted a "red flag" as defined in the broker-dealer's own procedures.
New York firm settled FINRA charges for failure to implement an adequate AML program for transactions involving low-priced securities and foreign financial institutions.