Zenoo Compliance Brief
FinCEN fines Canaccord Genuity $80m for OTC AML failures
Plus, State Street hit with $7.5m OFAC fine over Russian sanctions, OFAC greenlights Lukoil sale negotiations, and EU transfers AML authority to new AMLA regulator.
17 February 2026 · 4 min read
Canaccord Genuity's $80 million settlement with FinCEN marks a sharp reminder that OTC market-making desks require the same scrutiny as traditional banking. The firm failed to file roughly 150 SARs and neglected basic AML controls across a high-risk business line. Regulators are also tightening the screws elsewhere: State Street's fresh OFAC penalty, new EU supervisory structures, and the first signs of how sanctions licensing will actually work in practice. Read on for the detail.
In today's brief
- 1 FinCEN hits Canaccord with $80m penalty: what the OTC market-making gaps reveal about broker-dealer AML maturity.
- 2 What State Street's Russian sanctions failures reveal about transaction screening gaps at major banks.
- 3 Can Western firms now negotiate Lukoil sales despite Russia sanctions?
- 4 Will the new EU AML watchdog's expanded due diligence rules catch gaps the EBA missed?
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