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Securities Firms Offer Warm(er) Reception to Marijuana Industry, Says Former Examiner
printU.S. broker-dealers are far more likely than depository institutions to take on state-sanctioned cannabis firms as clients, according to Alison Jimenez, president of Florida-based consultancy Dynamic Securities Analytics, Inc. That conclusion, based on an analysis of suspicious activity report (SAR) data from the Financial Crimes Enforcement Network (FinCEN), reflects the fact that securities firms typically face fewer regulatory risks from the nascent industry, which remains subject to conflicting state and federal laws, according to the former Florida Department of Banking and Finance securities examiner. Jimenez, who will speak at the ACAMS moneylaundering.com 21st Annual International AML & Financial Crime Conference...
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