Anti-Money Laundering Compliance
Anti-Money Laundering Compliance
Tag: AML Audit
AML and Branch Audits in the Time of COVID-19
At the beginning of the year, FINRA released important updates related to supervision requirements for broker-dealers. As broker-dealers and their employees started experiencing various work-from-home, virtual meeting, and operations challenges, FINRA provided valuable guidance for the transition in a FAQ related to the coronavirus pandemic. Below are a few items where FINRA has provided areas of relief related to AML and Branch audits. AML Independent Testing FINRA Rule 3310, Anti-Money Laundering (“AML”) Compliance Program, requires firms to perform independent testing of their AML program every calendar year. If a member firm neither executes transactions for customers, holds customer accounts, nor Read more about AML and Branch Audits in the Time of COVID-19[…]
Highlights from FINRA Small Firm Conference Call: Part 1
Earlier this month, FINRA hosted a Small Firm Conference Call to discuss updates and implications of COVID-19 (Coronavirus). If you were not able to listen to the call live, a replay recording is available on demand. This recording provides and discusses many highlights noted in FINRA’s FAQs Related to Coronavirus Pandemic.
Annual Compliance Requirements: Year-End Priorities
It’s that time of the year again! As the fourth quarter ticks by, we have compiled a helpful end of year to-do list to aid small broker-dealers in addressing and closing out important annual compliance requirements.