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AML Compliance Continues to be an SEC Priority

On July 31, 2023, the U.S. Securities and Exchange Commission (SEC) Division of Examinations issued a Risk Alert highlighting observations made by Division staff during recent examinations of broker-dealers concerning anti-money laundering (AML) compliance. The Alert provides insights into areas of focus for future exams and is intended to assist firms in developing or enhancing […]

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Federal Reserve’s Instant Payment Service Has Arrived

Background and Purpose The U.S. Federal Reserve System (the Fed) officially launched the FedNow system to enable faster payments.  Since July 20, banks and credit unions have been able to signup for sending and receiving instant payments through the system. Non-participating banks can still utilize FedNow, as any eligible depository institution can use the service […]

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