The US Securities and Exchange Commission on Monday announced the availability of a new compliance tool to assist anti-money laundering (AML) compliance efforts by broker-dealers.
Broker-dealers have compliance obligations under statutory and regulatory provisions and related rules of the securities self-regulatory organizations (SROs).
The AML Source Tool, developed by the SEC's Office of Compliance Inspections and Examinations (OCIE), compiles and organizes key AML laws, rules and related guidance applicable to broker-dealers and provides links to these materials to promote easy accessibility.
"We're hoping that this AML Source Tool will assist broker-dealers with their AML compliance efforts," explained Lori Richards, Director of OCIE, continuing:
"It puts all AML requirements in one easy-to-reference location. While we initially developed the Source Tool for our own SEC examiners, we think it also will be an invaluable reference tool for broker-dealers and their internal AML compliance staff."
The AML Source Tool is available via the SEC website.
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