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FINRA’s 2009 AML Penalties Set to Outpace 2008 Fines
By Brian Monroe
printPenalties issued by the Financial Industry Regulatory Agency for anti-money laundering violations are on course to outnumber similar fines levied by the self-regulatory organization in 2008, according to agency data. The Washington, D.C.-based organization, known as FINRA, issued nine penalties tied to anti-money laundering (AML) violations in the first quarter, with an additional one added in April. FINRA, the largest non-governmental regulator for U.S. securities firms fined Darien, Conn.-based Euro Pacific Capital Inc. $37,500 earlier this month for inadequate training and slow response times to information requests from the U.S. Treasury Department. The rise in AML violations is a 350...
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