FINRA REQUIRES THAT EVERY BROKERAGE FIRM CREATE WRITTEN POLICIES ON ANTI-MONEY LAUNDERING (AML)
FINRA requires that every brokerage firm put into writing its policies on Anti-Money Laundering (AML). FINRA's Content Outline for the Securities Industry Essentials Exam lists the AML Compliance Program in Section 3.2.3, thus warning SIE Exam candidates that they should expect questions on the exam. Bob Eder in his book Study for the Securities Industry Essentials (SIE) Exam discusses these rules designed to prevent money laundering in detail. Here is an example from Bob Eder's book: Written Procedures (3.2.3) A brokerage firm must put in writing its safeguards against money laundering. FINRA Rule 3310 requires that every firm registered with FINRA put in writing its compliance policies and procedures re...