FINRA Fines Firms $750,000 for Inadequate Anti-Money Laundering Programs, Other Violations
WASHINGTON—-The Financial Industry Regulatory Authority announced today that it has fined Penson Financial Services, a Dallas-based securities clearing firm, $450,000 for failing to establish and implement an adequate anti-money laundering program to detect and trigger reporting of suspicious transactions, as required by the Bank Secrecy Act and FINRA rules and other violations.

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