US securities regulator hits Raymond James and compliance officer hard for AML breaches

Brian Monroe (+1 786 417 2706, bmonroe@acfcs.org) is Director of Content and Business Development at ACFCS. For information about the Association of Certified Financial Crime Specialists, visit www.acfcs.org

The chief self-regulatory body of the US securities sector has penalised Raymond James $17m for longstanding and systemic financial crime compliance failures and fined the firm’s former compliance officer a record $25,000, more than double the next highest sanction. Brian Monroe of the Association of Certified Financial Crime Specialists examines the underlying misconduct.