AML

With the Trump administration pledging to review recently passed federal rules, the Investment Adviser Association wants to submit new comments on an anti-money-laundering law for RIAs.

The case reflects the extent of industry efforts — and failures to enforce — guidelines such as customer identification programs.

The investment banking giant has been the subject of regulatory probes regarding the way it vets prospective clients. So far, that's not driving away potential clients, executives say.

The Financial Crimes Enforcement Network Tuesday proposed a rule to include investment advisors in the compliance regime under the Bank Secrecy Act, aiming to close regulatory gaps exploited by criminals.

Sheldon Whitehouse, D-Rhode Island, and Roger Wicker, R-Mississippi, introduced bipartisan legislation to put more responsibility on accountants and other financial professionals to safeguard against money laundering and other crimes.

The Advisor Group IBD missed 55 alerts suggesting suspicious disbursements by clients of Hector May, according to the SEC.

The giant retirement plan recordkeeper’s BD didn’t adequately file suspicious activity reports for more than three years, according to investigators.

The SEC says broker-dealers may treat investment advisors as if they were subject to the AML Rule — under certain conditions.

The alleged supervisory lapses occurred over a five-year period, according to the regulator.

The midterm elections virtually eliminate the chance that progress will be made on financial services legislation.

The focus since the 2016 election on easing rules, tax cuts and expanding access to credit is about to be turned on its head.

Many of the trades should have triggered market manipulation concerns because they involved companies that were barely operating but engaging heavily in promotional activity, the SEC says.

While some are mainstays, there are a few new ones to add to the list this year.

A recent report provides insights into the regulator's concerns, that include cybersecurity, anti-money laundering and alternative investments.

Chairman Jay Clayton and top SEC brass are putting advisors on notice. The regulator is drilling down on investor protections, while warning firms on cybersecurity and AML compliance.

Regulations to keep bad actors out of U.S. financial markets could soon apply to RIAs.

On the heels of a record-breaking year in enforcement, the regulator takes aim at cybersecurity, anti-money laundering policies and protection for senior clients.

Even in the present deregulatory climate, the Treasury Department is pressing ahead with a rule to require advisors to screen for and report suspicious activity.