Compliance Week

Merrill Lynch to pay $7.5M for failure to file Suspicious Activity Reports

In-depth analysis and peer practice for 10,000+ risk and compliance leaders. HQP benchmarking, LPEC certification, and the ...

US SEC fines BofA's Merrill Lynch $7.5 million for not flagging enough suspicious activity

The U.S. Securities and Exchange Commission fined Bank ​of America's Merrill Lynch unit $7.5 million on Monday ‌for failing ...
Nasdaq

SEC Charges Merrill Lynch and Parent Company for Failing to File Suspicious Activity Reports

Washington, D.C.--(Newsfile Corp. - July 11, 2023) - The Securities and Exchange Commission today announced charges against Merrill Lynch, Pierce, Fenner & Smith Incorporated and its parent company ...
Crowdfund Insider

FinCEN Updates on Suspicious Activity Reports (SARs), Aims to Reduce the Noise

Financial services firms are required to issue Suspicious Activity Reports (SARs) when they suspect money laundering or other illicit activities. This includes transactions of around $10,000 or ...
JD Supra

Enforcement News: Broker-Dealers Settle Charges for Filing Deficient SARs

The Bank Secrecy Act (“BSA”) and implementing regulations promulgated by the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) require that broker-dealers file a suspicious ...