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against a large investment firm for
systematic anti-money laundering
compliance failures2
$17,000,000
fine for one of the ...
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Avoid the Audit Trap

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Infographic describing the rising number of FINRA and SEC disciplinary actions and fines. It also informs customers about how EAI Information Systems can help companies be compliant and survive audits.

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Avoid the Audit Trap

  1. 1. against a large investment firm for systematic anti-money laundering compliance failures2 $17,000,000 fine for one of the world's largest brokerage firms for systemic reporting, books and records, and related supervisory violations1 $2.8 Million against a large investment firm and $250,000 against a financial services firm for failure to establish policies and procedures necessary to determine the amount of commissions their clients were being charged when sub-advisers “traded away” with a broker-dealer outside the wrap fee programs2 $600,000 Contact Kwame.Essieh@eaiinfosys.com to learn more about flexible, integrated compliance, data aggregation, and commissions processing tools from EAI. Avoid the Audit Trap FINRA filed about 1500 disciplinary actions, including... CybersecurityAML (particularly with respect to microcap companies) Senior citizens (particularly with respect to POAs and trusted contact persons) Conflicts of interest with respect to investment advisors Using data analytics to analyze complex products and embedded derivatives Insider trading Accounting issues Cybersecurity, including cyber-related disclosure failures 1 FINRA 2 SEC 3 Ze’-ev Eiger, “The SEC and FINRA Preview 2017 Enforcement Priorities at SIFMA’s C&L New York Regional Seminar,” The BD/IA Regulator, November 11, 2016 4 Ibid. ©2017 EAI Information Systems. All rights reserved. 2016 fine for a major discount brokerage for significant failures in required electronic records and email retention1 $2.6 Million 2017 against three registered advisers for failures in their compliance programs2 $120,000 FINRA enforcement priorities include:3 The SEC will focus on:4 The SEC filed 868 enforcement actions vs. 807 in 2015, including... 2016 Don’t become another notch in regulators’ belts Record data quickly, accurately and securely Efficiently and automatically manage broker/dealer risk and liability across multiple business lines Get a single-screen view of data aggregated from multiple systems. Automatically red-flag non-compliant or unsuitable transactions for increased scrutiny and document compliance reviews at varying levels Access tools to simplify regulatory compliance, AML compliance, and commissions processing. Surviving audits isn't getting any easier

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