In February 2022, FINRA issued compliance officer Arnold Feist with a $25,000 fine and a two-month suspension for failing to oversee his employer’s anti-money-laundering (AML) program. FINRA found that Feist, an AML compliance officer, had failed to familiarize himself with his firm’s day-to-day operations and had failed to supervise its
Regulators switch focus to CCOs
Recent cases show understanding who is responsible for what is becoming more important than ever.