The Financial Industry Regulatory Authority Inc. has barred Donna Jean Flemming, the former president and chief executive officer of Spencer Edwards Inc. for failing to implement an adequate anti-money laundering program and for falsifying documents.
The firm's membership in Finra was cancelled on Feb. 1. In addition to her role as head of the firm, Ms. Flemming served as chief compliance officer and its anti-money laundering compliance officer from 2012 until mid-2017. The firm was based in Centennial, Colo.
According to a Finra letter of acceptance, waiver and cons...
Deutsche Bank on Monday acknowledged a lapse in its money laundering controls, underlining the bank’s continuing struggle to move beyond a series of scandals that have helped push its stock price to a record low.
An internal audit uncovered deficiencies in the way that the bank processed checks on behalf of clients, Deutsche Bank said in a statement. The audit, which examined the bank’s operations in Britain, did not find any cases of money laundering or breaches of international sanctions that occurred because of the lapses, the bank said.
Anti-money-laundering specialists at Deutsche Bank recommended in 2016 and 2017 that multiple transactions involving legal entities controlled by Donald J. Trump and his son-in-law, Jared Kushner, be reported to a federal financial-crimes watchdog.
The transactions, some of which involved Mr. Trump’s now-defunct foundation, set off alerts in a computer system designed to detect illicit activity, according to five current and former bank employees. Compliance staff members who then reviewed the transactions prepared so-called suspicious activity reports that they bel...