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| Speech
PREPARED REMARKS OF JAMES H. FREIS, JR. DIRECTOR, FINANCIAL CRIMES ENFORCEMENT NETWORK
Good morning. I am delighted to be here this morning to help kick-off SIFMA's Anti-Money Laundering Compliance Conference for 2008. I would like to thank Alan Sorcher of SIFMA, who has been a leader on AML issues for broker-dealers since we commenced with the USA PATRIOT Act rulemakings. I am…
| Guidance
Customer Identification Program Rule No-Action Position Respecting Broker-Dealers Operating Under Fully Disclosed Clearing Agreements According to Certain Functional Allocations
In the securities brokerage industry, certain broker-dealers ("introducing firms") enter into clearing agreements with other broker-dealers ("clearing firms") according to the provisions of the rules of a broker-dealer self-regulatory organization, which permit the introducing firm and clearing…
| Speech
PREPARED REMARKS OF JAMES H. FREIS, JR. DIRECTOR, FINANCIAL CRIMES ENFORCEMENT NETWORK
Good morning. I would like to thank Clemente Vazquez-Bello for his kind introduction. I’d also like to thank Pat Roth for her leadership within the Florida International Bankers Association and for inviting me to speak with all of you today at the 8th Annual Florida International Bankers…
| Speech
PREPARED REMARKS OF JAMES H. FREIS, JR. DIRECTOR, FINANCIAL CRIMES ENFORCEMENT NETWORK
Good morning. I would like to thank Clemente Vazquez-Bello for his kind introduction. I’d also like to thank Pat Roth for her leadership within the Florida International Bankers Association and for inviting me to speak with all of you today at the 8th Annual Florida International Bankers…
| News
FinCEN Releases Ninth Issue of SAR Activity Review - By The Numbers
VIENNA, Va. - The Financial Crimes Enforcement Network issued today the latest edition of the SAR Activity Review - By The Numbers. This report presents a compilation of numerical data gathered from Suspicious Activity Reports (SARs) filed through the first six months of the year. While this report…
| News
Bill S. Bradley Sworn in as FinCEN Chief Counsel
VIENNA, Va. - This week Bill S. Bradley was sworn in as the Financial Crimes Enforcement Network's (FinCEN's) Chief Counsel. He most recently served as Legal Counsel to the Treasury Department's Executive Office for Asset Forfeiture.Mr. Bradley re-joined the United States Department of the Treasury…
| SAR Technical Bulletin
By The Numbers Issue 9
| Guidance
Application of Correspondent Account Rules to the Presentation of Negotiable Instruments Received by a Covered Financial Institution for Payment
The Financial Crimes Enforcement Network ("FinCEN") is issuing this interpretative guidance to clarify how our rules implementing section 312 of the USA PATRIOT Act (the correspondent account rule) apply to a covered financial institution presenting a negotiable instrument for payment to another…
| News
Sigue Corp. and Sigue, LLC of California to Pay $15 Million to U.S. Government for Anti-Money Laundering Program Deficiencies
The Financial Crimes Enforcement Network (FinCEN) announced the assessment of a civil money penalty in the amount of $12 million against Sigue Corporation and Sigue, LLC, a money services business headquartered in San Fernando, California, for violations of the Bank Secrecy Act (BSA). Sigue,…
| Enforcement Action
In the Matter of Sigue Corporation and Sigue, LLC