SEC AML initiative not clearly defined, lawyer warns

Alan Sorcher, Deloitte

Plans for an anti-money laundering (AML) initiative designed by US regulators are not sufficiently defined, according to one legal expert.

The US Securities and Exchange Commission’s (SEC) Capital Markets Working Group, set up in conjunction with the Commodity Futures Trading Commission (CFTC), is intended to focus on “money laundering vulnerabilities” at broker-dealers, according to a speech made by its architect, David Blass, chief counsel at the SEC's division of trading and markets. 

But Ed

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Investment banks: the future of risk control

This survey report explores the current state of risk controls in investment banks, the challenges of effective engagement across the three lines of defence, and the opportunity to develop a more dynamic approach to first-line risk control

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