TradeUP and US Tiger Securities pay UK$950,000 over omnibus account AML fails

Affiliated and FINRA-regulated TradeUP Securities, Inc and Tiger Securities, Inc have accepted fines of US$700,000 and US$250,000, respectively, for ineffective anti-money laundering (AML) controls around foreign financial institution omnibus accounts that transacted mainly in thinly traded, low-priced securities.

Affiliated and FINRA-regulated TradeUP Securities, Inc and Tiger Securities, Inc have accepted fines of US$700,000 and US$250,000, respectively, for ineffective anti-money laundering (AML) controls around foreign financial institution omnibus accounts that transacted mainly in thinly traded, low-priced securities.