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Securities Firm Fidelity’s Anti-Money Laundering Controls Under Scrutiny
By Matt Squire
printRegulators are investigating the anti-money laundering compliance programs at Fidelity Investments' brokerage-services unit. The U.S. Securities and Exchange Commission and the securities industry's self regulatory body, the Financial Industry Regulatory Authority, began investigations into five of Fidelity's SEC-registered entities last summer, Fidelity spokeswoman Anne Crowley said in an interview on Monday. The SEC has returned letters finding no AML compliance deficiencies in four of the five entities, and Boston-based Fidelity expects the exam of the fifth entity to be completed in the near future said Crowley. FINRA's examination is continuing, Crowley said. The Boston Business Journal first reported on March...
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