Tag: anti-money laundering fine

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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May 18, 2016 BY LeapRate Staff

Raymond James gets $17 million FINRA fine for systemic Anti-Money Laundering (AML) failures

US securities regulator The Financial Industry Regulatory Authority (FINRA) has announced a fine against units of Raymond James Financial, Inc. (NYSE:RJF) totaling $17 million for what it called widespread failures related to the firm's anti-money laundering (AML) programs. The fines were for failing to establish and implement adequate AML procedures, which resulted in Raymond James' failure…

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