Need AML technology? Getting it through clearing firms can be cheaper

more+
less-

Arrangements between AML compliance system producers and clearing firms might make your life easier if you’ve been trying to support your AML program alone.

Clearing firms such as Pershing and Fidelity are using economies of scales to offer introducing broker-dealers access to AML technology the BD firms could not otherwise afford. Speaking in general terms and not about particular firms or products, Steve Ganis an attorney at Mintz Levin in Boston, says, “Clearing brokers have long shared alerts generated by their own monitoring systems with their introducing brokers as a tool, but not a substitute, for the introducer’s own AML and SAR compliance."

He also notes.....

Please see full article 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.

© Mintz Levin | Attorney Advertising

Written by:

more+
less-

Mintz Levin on:

JD Supra Readers' Choice 2016 Awards
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*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*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...
×
×