AML Audits

Each FINRA-registered broker-dealer must test the firm’s AML program annually, or every other year if applicable, to assess the adequacy of the firm’s written program and to assess the broker-dealer’s compliance with its AML procedures, including compliance with its “know your customer” policies. AML Audits must be conducted by persons having knowledge of the requirements under FINRA Rule 3310, the Bank Secrecy Act and USA Patriot Act, as well as knowledge of the broker-dealer’s business. ICSGroup’s staffs have extensive knowledge of the applicable rules and regulations are experienced in conducting AML reviews.

Rule 3012/3010 Exam

Rule 3012 requires that broker dealers’ written supervisory procedures be examined and tested annually. ICSGroup will conduct the 3010 Review and provide a report as required by the rule demonstrating the adequacy of the firm’s supervisory procedures, identifying any deficiencies and recommending remedial solutions.

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