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Biggest Mistake Compliance Officers Make is Not Listening to Regulators, Says E*Trade Compliance Officer
printCompliance officers at securities and futures companies should be sure to know what types of financial crimes regulators are paying closest attention to, according to John Davidson, global head of anti-money laundering at online financial services company E*Trade. Most recently, the Financial Industry Regulatory Authority (Finra) has focused on detecting microcap stock manipulation and violations of the Foreign Corrupt Practices Act (FCPA), said Davidson. But that is subject to change, in part because examiners and anti-money laundering (AML) compliance staff are contending with complex investment vehicles that are difficult to categorize, he said. Davidson, who previously worked as a enforcement...
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