The following article was written by Richard Perona, VP of Institutional Sales at Advanced Markets and Fortex, Inc. Throughout my 18 years in the FX industry, AML (Anti-Money Laundering) / KYC (Know Your Client) training has been an annual requirement at the bank and broker level. Regulators have continually stressed the importance of AML /…
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U.S. Securities industry regulator Financial Industry Regulatory Authority (FINRA) announced today that it has barred former Morgan Stanley Smith Barney registered representative John Batista Bocchino for concealing approximately $190 million in Venezuelan bond trades from the firm, which had restricted such trading due to the regulatory, anti-money laundering and reputational risks it posed. Instead, Bocchino…
Read moreZuluTrade and Leon Yohai have 30 days to issue a written response to the NFA's complaint, which could result in expulsion or suspension for a specified period from NFA membership.
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