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A broker-dealer (the "Firm") agreed to pay $14.5 million to settle allegations by FinCEN, FINRA and the SEC of deficiencies in its anti-money laundering ("AML") program. According to FINRA, the Firm allegedly failed to establish and implement AML programs designed to monitor specific high-risk transactions in customer accounts, including foreign currency wire transfers and transactions in "penny stocks." According to FinCEN, the Firm failed to develop and implement a risk-based AML program associated with accounts that included both traditional brokerage and banking-like services. In addition

The FDIC, the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency proposed revisions to the Consolidated Reports of Condition and Income ("Call Reports").