Final settlement orders announced last week include those against firms for infractions often based in compliance program lapses.
Alleged violations include blue sheet filing, identity theft, and suspicious activity reporting, including a 2021 data breach that exposed customers’ data.
The SEC's orders allege that the broker-dealers omitted key details in their SAR narratives.
Case brought over failure to file any SARs for over three years.
BOI guidance for small businesses, BSA violations at a Puerto Rican bank, and a veteran rep held liable in contentious ruling.
FINRA and the SEC fine Merrill Lynch $6m, saying the broker-dealer failed to implement policies, procedures, and internal controls.
