- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
The Securities and Exchange Commission this week published information and guidance for investors and the financial services industry on the fast-growing use of robo-advisers. Jaclyn Jaeger has more.
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Charles Schwab disclosed in a regulatory filing it expects to pay $200 million to resolve a Securities and Exchange Commission investigation concerning its robo-advisory business.
Law enforcement officials stumbled on TD Bank’s role in money laundering while investigating a Mexican drug cartel. They found that the bank’s corporate culture considered compliance, particularly BSA/AML compliance, a low priority. As they dug deeper, authorities discovered that multiple money laundering schemes had infiltrated the bank’s network.
Canada’s anti-money laundering regulator fined Toronto-based real estate firm Jones Lang Lasalle $107,827 Canadian dollars ($77,632) for six violations of its anti-money laundering rules, after discovering gaps in recordkeeping and reporting requirements for know your customer rules.
