NFA directed member firms to a recent FinCEN Alert stressing the AML obligations of futures commission merchants and introducing brokers in the wake of recent Russia-related economic sanctions.
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NFA recommended that its member futures commission merchants and introducing brokers review FinCEN's recently issued FAQ concerning customer due diligence in order to ensure that their AML programs meet CDD-related regulatory obligations
The NFA urged futures commission merchants and independent brokers to revise their anti-money laundering programs to reflect the most current information on jurisdictions with strategic deficiencies identified by the Financial Action Task Force.