Regulatory References

AML:

• Investment Adviser AML Regulations 
  On August 25, 2015, FinCEN released this notice of proposed rulemaking. This proposed rule will require investment advisers to establish AML programs and report suspicious activities.
• 31 CFR Chapter X
  Effective March 1, 2011, BSA regulations were moved to a new chapter in the Code of Federal Regulations. 31 CFR Chapter X arranges regulations under the various financial industries governed by the BSA.
• New CTR and SAR Filing System
  In March 2012, FinCEN announced that it would begin accepting filings into its new BSA E-Filing system. New CTR and SAR forms will be accepted by this system and will replace the legacy SAR S-F form.
• NFA Interpretive Notice 9045
  In this notice, NFA gives direction on the application of rule 2-9(c) to IBs and FCMs.
• NFA Rule 2-9(c) 
  Section (c) of NFA’s supervision rule sets for the requirement that each FCM and IB must “develop and implement a written anti-money laundering program….”
• Anti-Money Laundering Reviews During Routine Examinations
  In this guide, FINRA describes what firms should expect in the AML reviews conducted during cycle examinations.
• FINRA Rule 3310. Anti-Money Laundering Compliance Program
  Effective January 1, 2010, this rule sets forth a B/D’s obligation to “develop and implement” a written AML compliance program.
• Anti-Money Laundering at FINRA.org
  This page provides links to many AML websites.
• Joint Final Rule (SEC & Treasury): Customer Identification Programs For Broker-Dealers
  This jointly issued release by the SEC and FinCEN presents broker/dealer CIP requirements.
• FATF – Money Laundering and Terrorist Financing in the Securities Sector
  This report contains FATF recommendations that can be implemented to help counter the problems of money laundering and terrorist financing.
• Anti-Money Laundering (AML) Source Tool for Broker-Dealers
  Published by the SEC, this research guide, or “source tool,” is a compilation of key AML laws, rules, and guidance applicable to broker-dealers.
• Regulatory Notice 12-08
  On January 26, 2012, the SEC issued a letter to all FINRA member firms requesting that they make SARs and supporting documentation available to FINRA staff upon request.

SEA Rule 17a-4:

• 17 CFR–PART 240 Amendments – 84 FR 68649
  On December 16, 2019, the SEC published a final rule which established recordkeeping and reporting requirements applicable to broker-dealers and security-based swap dealers (“SBSDs”). The final rule becomes effective on February 14, 2020.
• Regulatory Notice 18-31: SEC Issues Guidance on Third-Party Recordkeeping Services
  In the guidance, the SEC instructs broker/dealers relative to a B/D’s use of third-party record retention services. If using such services, the service provider must file a written notice with the SEC.
• SEA Rule 17a-4: Records to Be Preserved by Certain Exchange Members, Brokers and Dealers
  Added to the ’34 Act, this rule pertains to the record retention requirements of a broker/dealer. 17a-4(f))(3)(vii) requires a B/D to engage the services of a “third-party… who has access to” the B/D’s records.
• Regulatory Notice 11-39: Social Media Websites and the Use of Personal Devices for Business Communications 
  This Notice provides clarification concerning the application of B/D recordkeeping, suitability, and supervision rules to new technologies.
• Regulatory Notice 10-06: Social Media Web Sites 
  In this Notice, FINRA addresses the record-keeping challenges presented by evolving technologies.After reaffirming its position that a B/D must keep records of communications made through social media websites, FINRA gives the following commentary:”FINRA does not endorse any particular technology necessary to keep such records, nor is it certain that adequate technology currently exists.”
• Regulatory Notice 07-59: Supervision of Electronic Communications
  This Notice provides guidance regarding the review and supervision of electronic communications.
• SEC Interpretation: Electronic Storage of Broker-Dealer Records
  With this Interpretation, the SEC clarifies the “non-rewriteable, non-erasable” requirements of 17a-4.
• FINRA FYI Release (April, 2003)
  In this release, FINRA clarifies a broker/dealer’s obligation to use an independent and unaffiliated third-party service provider.