Albert Fried & Company pays for SAR failures
The SEC has issued an order charging Albert Fried & Company, a Wall Street based brokerage firm, with failing to sufficiently evaluate or monitor customers’ trading for suspicious activity as required under the federal securities laws. An SEC investigation found the firm failed to file SARs for more than five years despite red flags tied to its customers’ high-volume liquidations of low-priced securities. The firm agreed to pay a $300,000 CMP to settle the charges.
- Press release: http://www.sec.gov/news/pressrelease/2016-102.html
- SEC Order: http://www.sec.gov/litigation/admin/2016/34-77971.pdf
From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:Banker Store