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FINRA fines Credit Suisse over anti-money laundering policies » Ghabai Law Group
The Financial Industry Regulatory Authority said on Monday it has fined Credit Suisse's U.S.-based securities business $16.5 million for ineffective anti-money laundering programs. FINRA, the securities industry self-regulator, found that Credit Suisse Securities (USA) LLC relied on its brokers to identify and report suspicious trading, which did not always happen.