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 broker-dealer settled charges with FINRA for failing to monitor and supervise transmittals of customer funds to third parties.
Witnesses testified before the House Financial Services Committee on the growing use of cryptocurrencies for money laundering and other illicit finance.
A broker-dealer settled charges with FINRA for failing to maintain an anti-money laundering program that could be reasonably expected to detect and report suspicious transactions.
In an annual report, the SEC Division of Examinations identified current risks for investors and registrants and highlighted key areas for examination in 2024.