The U.S. Securities and Exchange Commission today unveiled a couple of new initiatives designed to assist anti-money laundering compliance efforts.
The SEC launched a new one-stop online reference site to assist mutual funds in their compliance efforts, and a new centralized phone line specifically for securities firms to report the filing of a Suspicious Activity Report that may require immediate attention by the commission.
The new tool for mutual funds provides links to key AML laws, rules and related guidance to help mutual funds maintain their AML compliance programs. Last year, the SEC made a similar tool for broker-dealers available to the public, and it reports that it has become a popular resource for securities firms. “While we initially developed these resources for our own SEC examiners, they are invaluable reference tools for industry compliance staff as well,” said Lori Richards, director of the SEC’s Office of Compliance Inspections and Examinations.
The OCIE and the Division of Enforcement also created the new phone line to centralize calls made to the commission about SAR filings.
SEC unveils two new anti-money laundering compliance initiatives
Online tool assists mutual funds in their compliance efforts
- By: IE Staff
- August 7, 2008 August 7, 2008
- 16:30