New AML Rules and Best Practices to Avoid Enforcement Action and Fines for Broker Dealers

Regulators have found that broker-dealer firms are not doing enough to comply with anti- money laundering (AML) requirements. That’s why in January 2022, Financial Industry Regulatory Authority (FINRA) released Rule 4111 in which a firm may be designated as "Restricted" and as a result penalties may be imposed. Broker-dealers were advised to modify or update their AML program to comply with FINRA’s Priorities.

This Guide to Anti-Money Laundering for US Broker Dealers provides practical guidance for firms looking to bolster or revamp their risk management processes.

Broker-dealer firms have used this guide to highlight areas of focus when conducting an annual gap review and internal audit. You can use this guide to:

• Assess your AML program to ensure it meets the latest regulatory requirements
• Evaluate risks specific to digital currency, low-priced stocks, currency conversion and
  suspicious trading and others
• Help avoid enforcement actions, fines and penalties for AML program failures
• Ensure you have an effective governance, accountability, and escalation structures

Read this AML Guide to tailor your risk management processes to the most current anti-money laundering landscape and apply best practices.

Simply fill out the form to get your copy today.