Broker-Dealers May Continue To Rely On Advisers For Certain AML Compliance, Provided New Conditions Are Met

SIFMA has once again successfully persuaded the SEC to extend relief permitting a broker-dealer to rely on an advisers performance with respect to certain anti-money laundering (AML) obligations.As part of a broker-dealers AML procedures, it must maintain a customer identification program (CIP) under rule 31 CFR 103.122. Pursuant to the rule, a broker may rely […]
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