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Securities Firms Still Struggling with AML Compliance: Finra
By Brian Monroe
printSome firms under the purview of the nation's largest independent securities regulator are failing to meet anti-money laundering compliance standards despite spending enough money to do so, according to an agency regulator. While anti-money laundering (AML) compliance is "generally very good," some broker-dealers are struggling with how to allocate the money they spend on compliance, according to Alma Angotti, senior counsel at the Financial Industry Regulatory Authority (Finra). The Washington, D.C.-based agency oversees nearly 5,000 brokerage firms. "One of the biggest problems we saw was not that firms weren't spending on AML, but they struggled to find the right mix...
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