Mitch Atkins, FirstMark’s founder and principal will be speaking on the Key 2019 Legislative and Regulatory Initiatives panel at FMA’s 2019 Securities Securities Compliance Seminar. The panel will take place on Wednesday, May 1, 2019 at 11:30 a.m. in Fort Lauderdale. The panel will cover areas of enforcement focus in the financial industry. Additionally, the panel will address key legislative initiatives and rulemaking that impact broker-dealers and others in the financial services industry. Topics Mitch Atkins will discuss include AML Compliance, and in particular small firm experiences with the FinCEN CDD Rule, FINRA’s 529 Share Class Initiative, including recently issued frequently asked questions published by FINRA, the FINRA High-Risk Broker (Firm) initiative, and FINRA Examination Priorities.
Other panelists will cover a broad range of topics, including cyber security, fintech, crypto enforcement, SEC’s Regulation Best Interest, CFTC priorities, FINRA’ s CAT, Rule 606, customer privacy, and others. The conference includes 14 separate panels covering a wide variety of financial industry compliance topics. The conference is being held at the Marriott Pompano Beach Hotel in Fort Lauderdale, Florida. There is still space available. To register, visit www.fmaweb.org.
One of the topics to be covered on the panel will include a review of small firm experiences with the implementation of the FinCEN CDD Rule which required compliance beginning May 11, 2018. The Rule mandates that covered financial institutions implement procedures to ascertain the identities of beneficial owners and a control person for certain legal entity customers. Additionally, clients must certify as to the accuracy of this information. FirstMark Solutions has recommended that small and mid-sized FINRA members who are still struggling with the requirements consider utilizing the revised FINRA Small Firm Anti-Money Laundering Template to develop their procedures for compliance with the FinCEN CDD Rule. Additionally, FirstMark Solutions has also prepared a practical guide covering the requirements of the rule, and how firms can properly implement procedures to ensure they are compliant. That guide can be found here.