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Tag Archives: financial institutions

Toke on This: FinCEN Issues Guidelines for Marijuana-Related Businesses

Posted in Broker-Dealer Regulation, Fund Regulation

The Financial Crimes Enforcement Network (FinCEN) got a whiff of the fact that financial institutions provide services to burgeoning marijuana-related businesses and published guidance to clarify customer due diligence expectations and reporting requirements for financial institutions.  Baked into the unusual guidance, dated February 14, 2014, is the government’s tacit acknowledgment that financial institutions can provide… Read More

Broker-Dealer Cybersecurity: Protect Yourself or Pay the Price

Posted in Broker-Dealer Regulation, Cybersecurity/Privacy, Enforcement, FINRA Enforcement

In its recently issued 2014 Regulatory and Examination Priorities Letter, FINRA stated that cybersecurity remains a priority given the ongoing cybersecurity issues reported across the financial services industry, including the increasing frequency and sophistication of attacks targeting the nation’s largest financial institutions. The securities industry watchdog continues to be concerned with the integrity of firms’… Read More