Regulatory Notice 22-10 (“Notice”), released on March 17, 2022, restates one of its usually unnoticed principles. Senior management is ultimately accountable.
SEC continues to impose major fines in connection with inadequate AML compliance, citing that a cut-and-paste approach to meeting the requirements is not an option.
There’s probably not an individual, company, or sector that 2020 left untouched, and anti-money laundering (AML) compliance is no exception.
Regulatory compliance isn’t exactly the easiest area to navigate — and getting it wrong can be both expensive and damaging to a firm’s reputation.