The Financial Crimes Enforcement Network, after consulting with staff of the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission, is issuing this guidance to confirm that, under the Bank Secrecy Act and its implementing regulations, securities broker-dealers,…
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Dear [ ]:
I am writing in response to your December 21, 2005 e-mail to Director Fox and Deborah Silberman, requesting on behalf of your clients that we hold implementation of our interim final rule regarding dealers in precious metals, stones or jewels1 in abeyance for persons that…
The Financial Crimes Enforcement Network announced today that Oppenheimer & Company, Inc. ("Oppenheimer"), a securities broker-dealer based in New York, consented to the assessment of a $2.8 million civil penalty for violations of the Bank Secrecy Act.As of April 2002, brokers and dealers in…