SEC Puts Brokers On Notice For Money Laundering Concerns
Al Barbarino, 31 March 2021
The U.S. Securities and Exchange Commission isn’t satisfied with the way broker-dealers are responding to and reporting suspicious activities, and a wave of enforcement actions could follow if these regulated entities don’t fall in line with the agency’s latest warning on the matter, industry attorneys say.
Redoubling its efforts to keep brokers in check when it comes to their anti-money laundering, or AML, obligations, the agency in a Monday risk alert sought to “remind” the regulated entities of their duties to report suspicious activities tied to penny stocks, unregistered securities and other high-risk transactions that have swelled up amid COVID-19. Continue reading “Article: SEC Puts Brokers On Notice For Money Laundering Concerns”
