Credit Suisse Securities to Pay $16.5M to FINRA Over AML Violations
U.S.-based Credit Suisse Securities LLC agreed Monday to pay $16.5 million to the Financial Industry Regulatory Authority for anti-money laundering violations involving microcap stock transactions. According to FINRA’s action, Credit Suisse’s suspicious activity monitoring program was deficient on two fronts. Credit Suisse primarily relied on its registered reps to identify and escalate potentially suspicious trading, including…
