FINRA Details Fines for Anti-Money Laundering Compliance Failures
Anti-Money Laundering Compliance measures are being accelerated on a global level, including across North America. In the Fall this year, FINRA (Wall Street's self-regulator) announced that - for the first time - it was issuing guidance relating to member broker-dealers with respect to the potential penalties that could be exercised where firms are guilty of Anti-Money Laundering Compliance failures. Although it hasn't been confirmed by FINRA, it's thought that these new guidelines could be the first sign that the regulator...
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