June 02, 2016 BY LeapRate Staff

SEC fines brokerage firm Albert Fried & Co $300,000 for anti-money laundering failures

Continuing its crackdown on money laundering issues at brokerage firms, the U.S. Securities and Exchange Commission (SEC) charged a Wall Street-based brokerage firm with failing to sufficiently evaluate or monitor customers’ trading for suspicious activity as required under the federal securities laws. An SEC investigation found that Albert Fried & Company failed to file Suspicious Activity…

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