FINRA recently issued Regulation Notice 19-18 (the “Notice”), which provided guidance to member firms regarding their monitoring obligations with respect to suspicious activity pursuant to the Bank Secrecy Act (“BSA”) and anti-money laundering (“AML”) requirements.
Insights and guidance from ACA's team of experienced compliance and technology professionals.
The total dollar amount of fines in 2018 that the Financial Industry Regulatory Authority’s (“FINRA”) Enforcement Division ordered against its member firms increased slightly to $74 million from $68 million in 2017. While the total dollar amount increased nearly nine percent, the total number of fines decreased to 209 in 2018, compared to 318 in 2017. Both the number and dollar amount of fines assessed by FINRA have fallen significantly since 2014, as the charts below show. In 2014, FINRA fined broker-dealers a record amount of nearly $129 million dollars, roughly 10 percent greater than the total dollar amount assessed in 2017 and 2018 combined.
Please join us for a workshop designed to assist CCOs and other professionals in the oversight of mutual fund distribution activities when dealing with current regulator
Third-party risk management is a key priority for banking regulators like the Office of the Comptroller of the Currency (“OCC”). Every one of the many thousands of service providers a bank may use exposes them to different levels of risk - some of which can be serious and costly. This is why banking regulators are requiring strong, risk-based due diligence and ongoing monitoring before and after a third party is hired. Roy Kim explains what you need to know.
On August 12, 2018, the Securities and Exchange Commission (“SEC”) sent a clarification letter to the Financial Industry Regulation Authority (“FINRA”) with respect to broker-dealers using a third-party r
The Financial Industry Regulatory Authority’s (“FINRA”) enforcement division brought 129 disciplinary actions against FINRA members during the first half of 2018.
In July 2018, the Financial Industry Regulatory Authority (“FINRA”) issued Regulatory Notice 18-20 (“Regulatory Notice”) with respect to digital assets.
On July 24, 2018, ACA and Sidley Austin will offer a broker-dealer focused seminar for in-house counsel and compliance officers. In this seminar, expert panelists from FINRA, Sidley, ACA and the industry will discuss topics relevant to the regulatory requirements unique to broker-dealers.
Please join us for a complimentary workshop focused on helping broker-dealer and investment adviser compliance professionals deal with today’s tough regulatory challenges.
Look for ACA at the 2018 FINRA Annual Conference.