Annual Anti-Money Laundering (AML) Independent Testing

FINRA Rule 3310 requires broker-dealers to perform an annual AML independent test to be conducted by a qualified party. These are ideal opportunities to provide informed and objective outside feedback to senior management.

Since Bedford and Main developed AML testing services to fulfill these requirements, our business has grown significantly year after year. Our clients now range from large independent full-service retail houses to small one-man private placements firms – from traditional US clients only to diverse foreign client bases that span the globe – from online, self-directed firms to DVP/RVP institutional broker-dealers and high-tech firms.

We attribute our success in this area to the fact that each AML review leverages our 40 years of industry knowledge, our FINRA compliance expertise, our financial services expert witness services, and our ACAMS certification as AML specialists.

Reviews are timely, detailed, and thorough. They are designed to add value to your AML Program, not to find “got you” issues.
A previous independent broker-dealer CEO, who is ACAMS Certified, performs the entire review.
The test includes an AML-oriented business analysis, allowing for a client-customized risk-based review.
We issue a detailed report that provides meaningful insights, not a simple “check the box” review.

Feel free to check out the News page for links to our first podcast: A PRIMER ON ANTI-MONEY LAUNDERING FOR BROKER-DEALERS.