SEA 1934 Rule 17a-8
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SEC whips out final orders for violations grounded in supervisory, oversight lapses
Final settlement orders announced last week include those against firms for infractions often based in compliance program lapses.
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Robinhood BDs dinged for violating more than 10 securities law provisions
Alleged violations include blue sheet filing, identity theft, and suspicious activity reporting, including a 2021 data breach that exposed customers’ data.
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SEC dings three broker-dealers for deficient SAR narratives
The SEC’s orders allege that the broker-dealers omitted key details in their SAR narratives.
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OTC Link LLC to pay $1.19m for failing to file suspicious activity reports
Case brought over failure to file any SARs for over three years.
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Guidance on BOI from FinCEN leads roundup of AML news
BOI guidance for small businesses, BSA violations at a Puerto Rican bank, and a veteran rep held liable in contentious ruling.
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Merrill Lynch fails to file nearly 1,500 SARs, say SEC and FINRA
FINRA and the SEC fine Merrill Lynch $6m, saying the broker-dealer failed to implement policies, procedures, and internal controls.