Broker-Dealer AML Transaction Monitoring: The Devil’s in the Details

more+
less-

Originally published in Securities Regulation & Law Report on 07/23/2012

Broker-dealers often face a significant challenge monitoring transactions for possible money laundering or other suspicious activity, especially given the volume of transactions they handle. Clearing firms, which often handle a substantially higher trading volume, have an even bigger challenge. Clearing firms are also expected to provide monitoring resources such as reports of wire activity, journals of funds and securities, and other transaction activity, to their introducing brokers so they can comply with their own reporting responsibilities.

Please see full alert below for more information.

LOADING PDF: If there are any problems, click here to download the file.


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Morrison & Foerster LLP | Attorney Advertising

Written by:

more+
less-

Morrison & Foerster LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×