SEC Settles AML Charges Against Brokerage Firms and Compliance Officer

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Friday, May 25, 2018
Author: 
Bruce Zagaris
Volume: 
34
Issue: 
5
Abstract: 

On May 16, 2018, the Securities and Exchange Commission announced it has settled charges against broker-dealers Chardan Capital Markets LLC and Industrial and Commercial Bank of China Financial Services LLC (ICBCFS) for failing to report suspicious sales of billions of penny stock shares.