The Financial Industry Regulatory Authority (FINRA) has fined two financial firms for insufficiencies in their anti-money laundering (AML) programs. Penson Financial Services of Dallas, Texas and Pinnacle Capital Markets of Raleigh, North Carolina were fined $450,000 and $300,000, respectively. These two fines follow a similar action in October 2009 involving deficiencies in the AML program at Scottrade.
Posts Tagged ‘Correspondent Firms’
FINRA Fines Two Financial Firms for Inadequate Anti-Money Laundering Programs
February 3rd, 2010 
Before You Invest 
Posted in Finance Fraud 
Tags: Accurate Records, Aml Program, Anti Money Laundering, Compliance Program, Correspondent Firms, Exception Reports, Financial Industry Regulatory Authority, Financial Institutions, Finra, Insufficiencies, Liquidations, Penny Stock, Penson Financial Services, Personal Resources, Principal Business, Raleigh North Carolina, Sec Enforcement, Securities And Exchange Commission, Securities Markets, Typical Fashion 
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