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SEC and Federal Reserve Agree to Share Info on BSA Violations
printThe Securities and Exchange Commission and the Federal Reserve Board will share information on Bank Secrecy Act and sanction violations made by securities dealers and bank holding companies, the organizations said Monday. The announcement is part of a larger agreement between the SEC and Federal Reserve to share information in "areas of common interest," including anti-money laundering, brokerage activities, and clearance and settlements. The Federal Reserve is the federal financial regulator for bank holding companies, while the SEC is charged with the oversight of securities firms. Under terms of the agreement, if either of the agencies discovers that a company...
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