FINRA has fined UBS Financial Services $20 million for anti-money laundering failures, including more than 60,000 foreign currency wires totaling over $10 billion that were not reasonably monitored.
Read more →FinCEN, the SEC and FINRA have penalized Canaccord Genuity in what FinCEN called the largest Bank Secrecy Act penalty ever imposed on a broker-dealer. The findings read like a checklist of under-resourced AML programs.
Read more →FINCEN published its final long awaited ‘Customer Due Diligence Rule‘ (CDD) for covered financial institutions on May 11, 2016.
Read more →FINRA announced today that it has fined Raymond James & Associates $17 Million for failures related to their
Read more →In the recent Technology Tools for Today conference hosted by Investment News on November 2nd in Florida, Big
Read more →Fidelity Investments was fined $500,000 by FINRA and ordered to pay $530,000 in restitution to clients for not
Read more →In December of 2014, FINCEN fined MoneyGram’s then Chief Compliance Officer Thomas Haider $1 Million as a civil
Read more →The first question regulators often ask during an initial examination interview is ‘do you have a risk based
Read more →Many BD firms are expanding their business in the shrinking BD market to the Investment Advisory space. The
Read more →Debit card transactions should be included in AML programs. This added data increases the burden of review resulting in the need for automated compliance software such as FinWebTech’s Catalyst Compliance Solution.
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