Insider trading is a front-and-center issue for the SEC, and consequently must be for financial services firms as well. The SEC included misuse of material non-public information (MNPI) on its list of 2022 exam priorities for...more
5/11/2022
/ Bank Secrecy Act ,
Broker-Dealer ,
Enforcement Priorities ,
Financial Institutions ,
FinCEN ,
Insider Trading ,
Material Nonpublic Information ,
Risk Alert ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Securities Violations ,
Suspicious Activity Reports (SARs)
Garcia Case Highlights Necessity of Knowing Your Customer and Listening to Internal Fraud Watchdogs.
The SEC’s recent Order against a broker-dealer (the “Firm”) imposed a $750,000 financial penalty for the Firm’s failure...more
10/21/2021
/ Anti-Money Laundering ,
Consent Order ,
Enforcement Actions ,
Enforcement Priorities ,
Financial Industry Regulatory Authority (FINRA) ,
FinCEN ,
Investment Adviser ,
Know Your Customers ,
Petition for Writ of Certiorari ,
Risk-Based Approaches ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Suspicious Activity Reports (SARs) ,
Unregistered Brokers
For the past decade, anti-money laundering (“AML”) has been at the forefront of securities regulators’ priorities. Indeed, AML enforcement cases have resulted in some of the highest fines imposed by securities regulators,...more
6/7/2021
/ Anti-Money Laundering ,
Chief Compliance Officers ,
Compliance ,
Corporate Fines ,
Due Diligence ,
Enforcement ,
Enforcement Actions ,
Financial Industry Regulatory Authority (FINRA) ,
Foreign Financial Institutions (FFI) ,
Internal Controls ,
Regulatory Violations ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC) ,
Suspicious Activity Reports (SARs)
The SEC continues to reiterate the role of broker-dealers as “gatekeepers to the securities markets” by focusing on firms’ anti-money laundering (“AML”) obligation. The import that the SEC, as well as FINRA, places on firms’...more
6/1/2018
/ Anti-Money Laundering ,
BSA/AML ,
Customer Due Diligence (CDD) ,
Customer Identification Program (CIP) ,
Enforcement Actions ,
Financial Industry Regulatory Authority (FINRA) ,
OCIE ,
Personal Liability ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC) ,
Suspicious Activity Reports (SARs)