Proceeding No. 2008012169101
Hearing Panel Decision in Department of Enforcement v. AIS Financial, Inc.
March 3, 2011
Respondent violated Conduct Rules 3011(a) and 2110 by failing to implement and enforce an anti-money laundering program reasonably designed to achieve and monitor compliance with applicable laws, rules, and regulations, which resulted in a failure to identify, investigate, and report suspicious activity. For this violation, Respondent is expelled from FINRA membership. Respondent is fined $40,000 for failing to maintain firm books and records, in violation of Conduct Rules 3110 and 2110, Section 17(a) of the Exchange Act, and Exchange Act Rules 17a-3 and 17a-4. Respondent is also assessed costs.
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