A bank registered as a swap dealer and an introducing broker settled CFTC charges for recordkeeping and supervision failures.
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A firm settled FINRA charges for failing to supervise the transmittal of customer funds by representatives with power of attorney and for failing to respond to red flags involving unsuitable trading recommendations.
The NFA submitted to the CFTC proposed changes to compliance rules, bylaws and interpretive guidance related to Member Questionnaires requirements.
A firm settled with FINRA for failing to (i) supervise the use of personal email for business-related communications, (ii) retain certain business-related email communications and (iii) adopt written policies and procedures to safeguard customer records and information.
FinCEN proposed to include "investment adviser" in the definition of "financial institution" under the Bank Secrecy Act. The proposed rule would require advisers to implement AML/CFT programs and maintain recordkeeping requirements.