Page 7 - Customer Identification Program News Today

ABA's response to the Venezuelan Embassy's letter re: Customer Identification Program.

In February 2022, the Financial Industry Regulatory Authority (FINRA) released the 2022 Report on FINRA’s Examinations and Risk Monitoring Program. This annual document aims to provide...

Washington takes aim at Russia’s access to digital cash as the U.S. and its allies levy heavy punitive measures against Moscow.

Today's proposed rule will greatly expand the application of reporting requirements identifying the true owners of business entities formed under U.S. law or formed under foreign laws and...

Today’s proposed rule will greatly expand the application of reporting requirements identifying the true owners of business entities formed under U.S. law or formed under foreign laws...

Finra has fined Wells Fargo Clearing Services and Wells Fargo Advisors $2.25 million for violating books-and-records retention requirements.

The Financial Crimes Enforcement Network (“FinCEN”) has been busy during the last few weeks – and presumably will remain busy for the rest of 2021, as it attempts to satisfy numerous...

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...

In a compliance case, the SEC accused LPL of failing to verify conflicting information when it opened a customer account and processed wire transfers.

Key Takeaways: ..According to FINRA, the number of reported instances involving broker-dealer fraudulent account takeovers (ATO) and related theft is on the rise. ...