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NEWS: SEC warns Wall Street stockbrokers to clean up their AML processes, undergo more training

SEC: Wall Street and Broadway sign inscription as seen illuminated with light during the night on the road and buildings at Wall St address, downtown in lower Manhattan as the area is a significant famous road and district for the American and the global economy, banking system and markets with the headquarters of companies and financial institutions located there like the New York Stock Exchange NYSE.

WALL Street stockbrokers have been warned to do more to ensure their services aren’t being used to launder dirty money. The US Securities and Exchange Commission (SEC) this week issued the risk alert after observing how broker-dealers weren’t putting enough resources or staffing into their AML programmes. Some firms were also inconsistent in their implementation…

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