BNP Paribas prime brokerage and securities business fined $15 million for AML failures
The fine was related to failures over BNP Paribas' AML system to identify suspicious penny stock trades and wire transfers over a four year period.
Tag: AML
IHS Markit aims to significantly reduce onboarding process for custodians
Custodians have highlighted the need to have a single-client view and digitise the account opening process.
Custodians face challenges in identifying underlying criminal investors
Custodians and market infrastructures are being required by regulators to look at the assets they are safeguarding and who they belong to.
AML deadline could come sooner for firms
UK firms told to up their game to catch up to European rivals on key regulatory issues.