Under the USA PATRIOT Act and other regulations, broker-dealers must establish a compliance program, which includes policies and procedures to detect and report suspicious activities to the government, as well as ensure compliance with the new laws. Firms must also implement specialized employee training programs, designate a special compliance officer and conduct independent audits of the effectiveness of the compliance program.
The regulations also impose new requirements regarding client information and verification of that information. We are required to verify the identity of the clients with whom we do business and obtain information about the source of a client’s wealth. As part of our compliance with the new Act and in support of the fight against money laundering around the world, we will ask clients for information and documentation, which may be used to verify client identity. Until you provide the information or documents we need and until we have verified your identity, we may not be able to provide services to you.
This policy notice is required by the Financial Industry Regulatory Authority (FINRA). For additional information contact:
Charles A. Bryan