SEC AND CFTC LAUNCH AN ANTI MONEY LAUNDERING GROUP
The SEC and CFTC launched a working group to discuss and identify money laundering vulnerabilities.
These issues have lingered for awhile. Both agencies believe that there is an opportunity to clarify their positions relating to money laundering and if their programs could potentially uncover such events. This group will also include representatives from the Treasury Department, the Financial Crimes Enforcement Network, as well as a variety of self regulatory organizations and agencies.
This announcement demonstrates that the SEC and CFTC are very much interested in the effects of money laundering in their respective markets. Time will tell if this will impact examinations and enforcement actions, but the SEC and CFTC will, likely, concentrate on some of these issues in their future programs.