To explain a recent US Securities and Exchange Commission (SEC) administrative proceeding targeting a broker-dealer as part of the Commission’s continuing efforts to enforce anti-money laundering (AML) regulations and reporting.
This article explores the factual and legal contours of a specific SEC administrative proceeding to better understand the affirmative steps the Commission expects of financial service providers as it relates to AML activities and reporting.
Given the SEC’s current enforcement focus, it is critical that financial institutions conduct their activities with a clear understanding of the AML regulations, investigatory expectations and related reporting requirements associated with the provision of brokerage and advisory services to US clients and customers.
This article highlights the SEC’s continuing interest in broker-dealer AML policies and compliance and provides analysis from experienced lawyers with expertise in financial services, securities and white collar crime.
Bondi, B.J., Gilman, C.A., Petillo-Décossard, K.C., Schuster, J.J. and Ortiz, S. (2017), "SEC charges broker-dealer and AML officer for failing to file SARs related to pump-and-dump scheme", Journal of Investment Compliance, Vol. 18 No. 3, pp. 41-43. https://doi.org/10.1108/JOIC-06-2017-0032Download as .RIS
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