This page (revision-1) was last changed on 29-Nov-2024 16:16 by UnknownAuthor

Only authorized users are allowed to rename pages.

Only authorized users are allowed to delete pages.

Page revision history

Version Date Modified Size Author Changes ... Change note

Page References

Incoming links Outgoing links
Anti-Money Laundering
Anti-Money Laundering

Version management

Difference between version and

At line 1 added 20 lines
!!! Overview[1]
[{$pagename}] ([AML]) is Part of the [Financial Industry Regulatory Authority Inc]'s [Bank Secrecy Act]
[{$pagename}] purpose for the rules is to help detect and report suspicious activity including the predicate offenses to money laundering and terrorist financing, such as securities fraud and market manipulation.
[Financial Industry Regulatory Authority Inc] reviews a firm’s compliance with [AML] rules under [FINRA Rule 3310], which sets forth minimum standards for a firm’s written [AML] [compliance] program. The basic tenets of an [AML] compliance program under FINRA 3310 include the following.
* The program has to be approved in writing by a senior manager.
* It must be reasonably designed to ensure the firm detects and reports suspicious activity.
* It must be reasonably designed to achieve compliance with the AML Rules, including, among others, having a risk-based customer identification program (CIP) that enables the firm to form a reasonable belief that it knows the [true identify of its customers|Know Your Customer].
* It must be independently tested to ensure proper implementation of the program.
* Each [FINRA] member firm must submit contact information for its [AML] [Compliance] Officer through the [FINRA] Contact System (FCS).
* Ongoing training must be provided to appropriate personnel.
[{$pagename}] is considered a [Know Your Customer] regulation.
!! More Information
There might be more information for this subject on one of the following:
[{ReferringPagesPlugin before='*' after='\n' }]
----
* [#1] - [Anti-Money Laundering|https://www.finra.org/industry/aml|target='_blank'] - based on information obtained 2017-02-11
This page (revision-1) was last changed on 29-Nov-2024 16:16 by UnknownAuthorTop