Anti-Money Laundering (AML)

Topic Page: AML

Firms must comply with the Bank Secrecy Act and its implementing regulations ("Anti-Money Laundering rules"). The purpose of the AML rules is to help detect and report suspicious activity including the predicate offenses to money laundering and terrorist financing, such as securities fraud and market manipulation.

FINRA reviews a firm’s compliance with AML rules under FINRA Rule 3310, which sets forth minimum standards for a firm’s written AML compliance program. The basic tenets of an AML compliance program under FINRA 3310 include the following.

  1. The program has to be approved in writing by a senior manager.
  2. It must be reasonably designed to ensure the firm detects and reports suspicious activity.
  3. It must be reasonably designed to achieve compliance with the AML Rules, including, among others, having a risk-based customer identification program (CIP) that enables the firm to form a reasonable belief that it knows the true identity of its customers.
  4. It must be independently tested to ensure proper implementation of the program.
  5. Each FINRA member firm must submit contact information for its AML Compliance Officer through the FINRA Contact System (FCS).
  6. Ongoing training must be provided to appropriate personnel.

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Anti-Money Laundering Template for Small Firms

FINRA provides an Anti-Money Laundering Template to assist Small Firms in establishing the AML compliance program required by the Bank Secrecy Act, its implementing regulations, and FINRA Rule 3310. The template provides text examples, instructions, relevant rules and Web sites, and other resources.

Anti-Money Laundering Forms

Learn More

FINRA's Anti-Money Laundering (AML) e-learning courses cover concepts and strategies for detecting and preventing money-laundering activity. Each course presents unique scenarios that illustrate typical money-laundering situations.

Visit our e-learning courses page to learn more.

2018 AML Half-Day Seminars
FINRA’s AML Half-Day Seminars provide attendees with information on the fundamentals of money laundering and money laundering typologies, relevant rules and regulations, and monitoring for suspicious activity. Each seminar provides demonstrations on using data and publicly available information to supplement compliance reviews of exception reports and alerts generated by automated surveillance systems.

Contact OGC

FINRA's Office of General Counsel (OGC) staff provides broker-dealers, attorneys, registered representatives, investors and other interested parties with interpretative guidance relating to FINRA’s rules. Please see FINRA OGC Interpretative Guidance for more information.

OGC staff contact:

Victoria Crane
1735 K Street, NW
Washington, DC 20006
(202) 728-8000

FINRA Provides Guidance to Firms Regarding Suspicious Activity Monitoring and Reporting Obligations
May 6, 2019
FINRA Amends Capital Acquisition Broker Rule 331 to Conform to FinCEN’s Final Rule on Customer Due Diligence Requirements for Financial Institutions
October 19, 2018
FINRA Amends Rule 3310 to Conform to FinCEN’s Final Rule on Customer Due Diligence Requirements for Financial Institutions
May 3, 2018
FINRA Provides Guidance to Firms Regarding Anti- Money Laundering Program Requirements Under FINRA Rule 3310 Following Adoption of FinCEN’s Final Rule to Enhance Customer Due Diligence Requirements for Financial Institutions
November 21, 2017
SEC Requests Broker-Dealers Make SARs and SAR Information Available to FINRA
February 10, 2012
SEC Approval and Effective Dates for New Consolidated FINRA Rules
October 15, 2009
NASD and NYSE Joint Release Regarding Special Measures against Specified Banks Pursuant to Section 311 of the USA PATRIOT Act
April 18, 2007
Special Measures against Specified Banks Pursuant to Section 311 of the USA PATRIOT Act
August 14, 2006
SEC Approves Amendments to Anti-Money Laundering Compliance Program Rule and Adoption of Interpretive Material
February 10, 2006
Treasury and SEC Issue Final Rule Regarding Customer Identification Programs for Broker/Dealers
June 20, 2003
Development Regarding Treasury Information Requests Under Section 314 of the PATRIOT Act
December 2, 2002
NASD Adopts Amendments to Rule 3011 to Require Members to Provide to NASD Contact Information for an Anti-Money Laundering Compliance Person(s)
October 31, 2002
Treasury and SEC Request Comment on Proposed Regulation Regarding Broker/Dealer Anti-Money Laundering Customer Identification Requirements
August 13, 2002
Treasury Issues Final Suspicious Activity Reporting Rule for Broker/Dealers
August 12, 2002
NASD Provides Guidance to Member Firms Concerning Anti-Money Laundering Compliance Programs Required by Federal Law
April 10, 2002
Executive Order Targeting Terrorists
October 10, 2001
Tool / Resource
FINRA provides a template for small firms (Word format 164 KB) to assist them in fulfilling their responsibilities to establish the Anti-Money Laundering Program. The template provides language concerning, among other things, the final customer identification rule.
July 18, 2018
Report / StudyGuidance
December 1, 2017
Two important regulatory developments relate to obtaining customer information: the Anti-Money Laundering Customer Identification Rule and the SEC's Books and Records Customer Account Records Rule. These rules require that important customer identification be obtained. However, these rules have critical differences including their purposes, their definitions, and their timing requirements. We created this document to assist our member firms. It contains brief summaries of the rules' relevant provisions.
September 1, 2003
This webcast focuses on what firms should expect from the Anti-Money Laundering reviews conducted as part of FINRA's routine examinations. We will review how FINRA examiners will check to make sure you have appropriate AML procedures in place, and you will learn what we expect of you and what you should expect from us during the AML part of an exam.

Frequently asked questions on FINRA Rule 3310 and other AML-related issues