SEC Warns Brokerage Firms to Tighten Up Anti-Money-Laundering Programs

Reported by Kenneth Corbin The agency has issued a risk alert detailing the findings of a series of exams focusing on brokers’ AML programs, identifying a number of failures in a compliance area regulators see as important in preventing the illicit movement of money. “[S]ome registrants did not appear to devote sufficient resources, including staffing, to AML […]