NYSE Reg fines firm $90,000
NYSE Regulation, the regulatory body of the New York Stock Exchange has announced that it has censured and fined RBC Dain Rauscher Inc. $90,000 for failing to establish written procedures regarding filing of suspicious activity reports.
NYSE Regulation, the regulatory body of the New York Stock Exchange has announced that it has censured and fined RBC Dain Rauscher Inc. $90,000 for failing to establish written procedures regarding filing of suspicious activity reports.
The Minneapolis-based member firm was also accused of failing to conduct adequate review for structuring, failing to monitor a system to review and document follow-up on exemptions found by the firms anti-money laundering department.
RBC agreed to the penalties neither admitting nor denying the charges.
Additionally, NYSE said it has also fined 11 other individuals for other rules violations.
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