SEC's Division Of Examinations Signals Continuing Focus On Broker-Dealer AML Compliance Obligations - Government, Public Sector
In Short The Situation: The Securities and Exchange Commission's Division of Examinations ("EXAMS") released a Risk Alert on March 29, 2021, reminding broker-dealers of their obligation to comply with anti-money laundering ("AML") requirements imposed by the Bank Secrecy Act ("BSA") and related regulations—in particular, those relating to the filing of Suspicious Activity Reports ("SARs"). The Result: The Risk Alert highlighted deficiencies observed by EXAMS and encouraged broker-dealers to review and improve their AML policies, procedures, and controls related to the monitoring and r...
Source: mondaq.com