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Weekly Roundup: Finra Fines Two for AML Violations, Treasury Designates Sinaloa-based Cartel as Drug Trafficking Organization, and More
printThe Financial Industry Regulatory Authority (Finra) fined NY-based Benchmark Company $72,500 Tuesday for anti-money laundering violations. The firm failed to monitor for suspicious activity in its institutional client accounts, according to Finra. Benchmark's former compliance officer was also penalized $5,000 for conducting inadequate transaction reviews. More Separately, the self-regulatory agency dinged Boca Raton, Fl-based Lampost Capital $50,000 and its chief compliance officer $5,000 on Wednesday for failing to investigate client and transaction red flags. Lampost also failed to conduct independent testing of its compliance program. More The U.S. Senate Banking Committee will hold an anti-money laundering hearing, Reuters reported. The...
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