Violation Tracker Individual Record

Company: 
Banorte-Ixe Securities International, Ltd.
Penalty: 
$475,000
Year: 
2014
Date: 
January 28, 2014
Offense Group: 
financial offenses
Primary Offense: 
anti-money-laundering deficiencies
Secondary Offense: 
financial institution supervision failures
Violation Description: 

The Financial Industry Regulatory Authority fined Banorte-Ixe Securities International, Ltd., a New York-based securities firm that services Mexican clients investing in U.S. and global securities, $475,000 for not having adequate anti-money laundering (AML) systems and procedures in place and for failing to register approximately 200 to 400 foreign finders who interacted with the firm's Mexican clients.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Financial Industry Regulatory Authority
Civil or Criminal Case: 
civil
Notes: 

FINRA is a securities industry self-regulatory body authorized by the federal government.

Source Notes: 
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Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.