Recent News
FINRA on AML, Departing Registered Representatives, New Proposed Rules for Firm Misconduct
Over the last month, FINRA issued guidance on anti-money laundering compliance and customer communications concerning departing registered representatives. FINRA also proposed a rule adding obligations to firms with a significant history of misconduct. In this article we take a closer look at these moves and the stepped-up expectations that flow from them.
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FINRA Issues Guidance on Anti-Money Laundering Compliance Obligations
In a new Regulatory Notice, FINRA provided guidance on reporting and monitoring suspicious activities under a member firm’s anti-money laundering (“AML”) compliance program.
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Safeguarding Client Information: OCIE Wants Firms to Increase Efforts
Continuing in its efforts to prioritize the protection of retail investors, the SEC’s Office of Compliance Inspections and Examination (OCIE) has issued a new Risk Alert highlighting privacy and information security issues raised during examinations of registered investment advisers and broker-dealers. In this article, Bates Research takes a closer look at the new Alert and the OCIE’s emphasis on improving firms' compliance in safeguarding their clients' personal information.
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