On March 6, the Financial Crimes Enforcement Network (FinCEN) announced a historic $80 million civil money penalty against Canaccord Genuity LLC for willful violations of the Bank Secrecy Act (BSA) and its implementing regulations. FinCEN, which is part of the U.S. Treasury Department, has principal responsibility for administration of U.S. anti-money laundering (AML) and terrorist financing laws.
