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The SEC's New Enforcement Tool?

Law360, New York (July 12, 2017, 12:22 PM EDT) -- It appears that the U.S. Securities and Exchange Commission is beginning to use a new weapon against broker-dealers and other financial institutions. In SEC v. Alpine Securities Corp., the SEC filed suit against a broker-dealer, alleging that it "routinely and systematically" violated the Bank Secrecy Act by failing to file suspicious activity reports for stock transactions it had flagged as suspicious, and by filing SARs that omitted critical information, such as the customer’s history of criminal or regulatory violations or connections to foreign institutions. As discussed...
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