FINRA Fines Trading Firm $250K For Alleged AML Failures : vi

FINRA Fines Trading Firm $250K For Alleged AML Failures


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FINRA Fines Trading Firm $250K For Alleged AML Failures
Law360 (April 16, 2021, 5:05 PM EDT) -- The Financial Industry Regulatory Authority fined Score Priority Corp. $250,000 based on findings that the electronic trading platform failed to establish an anti-money laundering program over a four-year period, allowing potentially suspicious trading out of accounts based in China and other foreign jurisdictions.
The firm's failure to set up a "reasonable" AML program between September 2016 and September 2020 allowed various instances of failures to "detect, investigate, and respond" to potentially suspicious trading of low-priced securities and other activity tied to the foreign accounts, according to Wednesday's order.

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