SEC Risk Alert for Broker-dealers Includes Broader Lessons, Washington Legal Foundation
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SEC Risk Alert for Broker-dealers Includes Broader Lessons, Washington Legal Foundation

Author, Washington Legal Foundation, Aug. 10, 2023

The Securities and Exchange Commission’s Division of Examinations (“the Division”) recently published its latest Risk Alert, this time including key observations from recent examinations of broker-dealers’ compliance with anti-money laundering (“AML”) requirements.  Although the focus of this Alert was limited to broker-dealers, all financial institutions, including banks and large casinos, are subject to similar AML compliance requirements under the Bank Secrecy Act (“BSA”) and related regulations and rules.  Accordingly, any entity subject to the BSA should take note.

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