As part of its rulebook consolidation process, FINRA has announced that it is removing the small firm exemption under Rule 3011 that allowed member firms to conduct independent AML testing internally. Effective January 1, 2010, new consolidated FINRA Rule 3310 requires that all AML testing be conducted by a person independent of the firmís AML compliance program in order to comply with the BSA independent testing provisions.
View new FINRA Rule 3310
FrontLine Compliance AML Independent Testing Services
FrontLine Compliance, LLC is a regulatory compliance consulting firm of former high-level regulatory insiders offering customized services to broker-dealers, investment advisers, investment companies, hedge funds, and insurance company affiliates. Staffed by former SEC and FINRA regulators, and chief compliance officers, FrontLine Compliance provides the kind of industry knowledge, experience and expertise on regulatory issues only available from well-seasoned insiders. For more information about the firm, please visit www.frontlinecompliance.com.
FrontLine Compliance, LLC
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