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

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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.

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Published In: Administrative Agency Updates, Criminal Law Updates, Finance & Banking Updates, Securities Updates

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.

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