Wall Street brokerage Albert Fried & Co. agreed June 1 to pay a $300,000 civil monetary penalty to settle Securities and Exchange Commission allegations that it failed to file suspicious activity reports with bank regulators despite red flags (In re Albert Fried & Co. LLC, SEC, Admin. Proc. File No. 3-17270, 6/1/16).
The case is the SEC’s first against a firm for failing to file an SAR.
AF&C also agreed, without admitting or denying wrongdoing, to cease and desist from future violations.
The SEC did not immediately respond to an e-mailed request for comment on whether more ...