Basic Search  |  Summaries  |  Advanced Search

Violation Tracker Individual Record

Company: Penson Financial Services
Penalty: $450,000
Year: 2010
Date: February 2, 2010
Offense Group: financial offenses
Primary Offense: anti-money-laundering deficiencies
Violation Description: The Financial Industry Regulatory Authority fined Penson Financial Services, a Dallas-based securities clearing firm, $450,000 for failing to establish and implement an adequate anti-money laundering (AML) program to detect and trigger reporting of suspicious transactions, as required by the Bank Secrecy Act and FINRA rules and other violations.
Level of Government: federal
Action Type: agency action
Agency: Financial Industry Regulatory Authority
Civil or Criminal Case: civil
Source of Data: (click here)
Notes: FINRA is a securities industry self-regulatory body authorized by the federal government.
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.