for anti-money laundering lapses.
WASHINGTON (AP) --
Industry regulators have fined Raymond James $17 million, accusing the financial services firm of widespread failures in its controls against money laundering.
The Financial Industry Regulatory Authority said Wednesday it was the biggest fine it has imposed related to deficiencies in anti-money laundering programs. FINRA said that Raymond James failed over several years to detect suspicious activity in client investment accounts and to report it to government authorities.
The brokerage industry's self-policing organization said th
Source of insurance-forums.net
WASHINGTON (AP) --
Industry regulators have fined Raymond James $17 million, accusing the financial services firm of widespread failures in its controls against money laundering.
The Financial Industry Regulatory Authority said Wednesday it was the biggest fine it has imposed related to deficiencies in anti-money laundering programs. FINRA said that Raymond James failed over several years to detect suspicious activity in client investment accounts and to report it to government authorities.
The brokerage industry's self-policing organization said th
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