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SEC slams CCO for anti-money laundering violations

Joe Mont | June 16, 2017

The Securities and Exchange Commission is once again punishing a chief compliance officer who was negligent is their duties.

John David Telfer, 56, was former chief compliance officer and anti-money laundering officer of a registered broker-dealer, Meyers Associates (now known as Windsor Street Capital). He served in those roles from November 2013 until his separation from the firm in September 2016.

In January 2017, the SEC initiated proceedings against Telfter and his firm, arising from his “failure to perform his responsibilities as the anti-money laundering officer of a registered broker-dealer, resulting in the broker-dealer failing to file suspicious activity reports required by statute and Commission rules.”

Meyers Associates was a New York limited partnership registered with the Commission as a broker-dealer since...

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