Money laundering

Morgan Stanley is under investigation by FINRA over how it vetted clients for money-laundering risks, adding to existing federal scrutiny of its wealth-management and trading units.

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 SEC, the Office of the Comptroller of the Currency and other Treasury Department offices arre all looking into the Wall Street giant's anti-money laundering measures.

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.

After the Office of the Comptroller of the Currency cracked down on a $2.8 billion-asset bank, industry observers expect more scrutiny of the ties between banks and financial technology startups.

The wirehouse and its independent arm failed to store millions of documents in the right format over a 17-year span, the regulator says.

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.

Commission prioritizes retail investors as OCIE issues its must-read compliance letter.

Alan J. Foxman looks into his crystal ball and predicts authorities will focus on these key areas.

“Ozark,” “Ballers,” “The Wolf of Wall Street” and “Trading Places” are fun to watch, but they bear nearly no resemblance to the day-to-day work of financial advisors.