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SEC Tells Broker-Dealers To Tighten Their Anti-Money Laundering Programs

Member David Adams spoke to The National Law Journal about the SEC's efforts to urge broker-dealers to boost their anti-money laundering programs. David commented, "When the SEC puts out risk alerts like this, it’s never to say that the industry is doing a fantastic job. It’s always to say, 'Hey, we found a few things that we think are problematic and we think the industry needs to focus on and address these issues.'" He continued, "The industry has substantially changed since the pandemic and a lot of this is probably growing pains. You’re seeing enforcement actions kind of come out now that have been in the making since COVID."  


The National Law Journal