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Provided By: Danielle Paul
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2008 Regulatory Cases and Statistics
A look back at the year 2008 reveals a busy yet productive one for both FINRA and the SEC. Perhaps the most exciting news relating to the two agencies occurred on December 18, when President-elect Barack Obama announced his intent to nominate FINRA CEO Mary Shapiro as the 29th chairperson of the U.S. Securities and Exchange Commission, replacing Christopher Cox. She was unanimously confirmed by the US Senate in late January 2009. |
Provided by: Katie Hughes |
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Relying on a Third Party to Fulfill CIP Requirements
Broker-dealers are required to have and follow procedures that enable the firm to form a reasonable belief that it knows the true identity of its customers. At a minimum, firms must collect certain customer identification information from any person attempting to engage in transactions; employ risk-based measures to verify the person’s identity; record customer identification information, including the verification methods used and the results; compare customer identification information... |
Provided By: Jane Abramczyk |
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Anti-Money Laundering Update
I had the pleasure of attending SIFMAs 9th annual Anti-Money Laundering and Financial Crimes conference in New York City on March 4 . There was an experienced and diverse set of speakers and panelists from FinCEN, OFAC, FINRA, the SEC, the Treasury Department, FBI, Department of Justice, and Federal Reserve Bank, along with senior AML and compliance personnel from the private sector. Several topics were discussed throughout the day, including common examination findings, enforcement actions.... |
Provided by: Nathan Jodat
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Safety of Your Client’s Personal Information – What You Need to Consider…
Because of the increasing number of information security breaches involving broker-dealers and investment advisory firms, the SEC determined there is a potential for identity theft and possible other misuse of personal financial information. They are concerned that firms are not regularly reevaluating and updating their systems to keep up with the increasingly sophisticated modes of attack, such as “phishing” sites that target the financial sector. |
Provided by: Beverly Fetcko |
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Employee Spotlight |
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Peter Flynn, Client Relations
Mr. Flynn is Regulatory Compliance's in house attorney. As a former Assistant Director of the SEC Boston office, Peter advises our staff and clients with respect to legal compliance issues. |
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A Message from Regulatory Compliance
Set your SPAM Filters -
Be sure to include our email address on your list of friendly recipients so that you won't miss any important notices. Sales@RegulatoryCompliance.com |
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Available Manual Updates
• 2008 BD AML Update
• 2009 BD WSP Update Service
• RIA WSP Update 2008 |
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The Compliance Exchange -
Online Store Delivers Quality Securities Exam Preparation - When you’re preparing for a securities licensing exam, you want easy access to high quality materials to gain the confidence and knowledge needed to pass. The Compliance Exchange, our new online store, offers premium exam preparation textbooks and software that are designed for this purpose. Check out our online offerings of comprehensive, well-written exam preparation materials. You can also: Preview a detailed table of contents and sample chapter for each textbook, take a trial exam by downloading a software demo, and, view sample questions and screenshots.
www.ComplianceXchange.net |
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