Eli Wishnivetski Eli Wishnivetski

TD Bank

TD Bank, the 10th largest bank in the United States, pleaded guilty and agreed to pay over $1.8 billion in penalties to resolve the U.S. Justice Department’s investigation into violations of the Bank Secrecy Act (BSA) and money laundering.

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Eli Wishnivetski Eli Wishnivetski

American Portfolios Financial Services, Inc.

American Portfolios Financial Services, Inc. was fined $225,000 for failing to develop and implement an anti-money laundering (AML) compliance program, including written procedures, reasonably designed to detect and cause the reporting of suspicious activity in low-priced securities.

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Eli Wishnivetski Eli Wishnivetski

Merrill Lynch, Pierce, Fenner & Smith Inc.

Merrill Lynch was fined $825,000 for failing to review the execution timeliness of orders processed through the firm’s electronic order systems from the time the orders were routed to a market center for further handling or execution and the final execution time.

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