Zenoo Compliance Brief
FinCEN, SEC, FINRA fine Canaccord Genuity $80 million for AML failures
Plus, DOJ announces arrests in taxpayer fraud cases, State Street hit with $7.5m OFAC penalty, and OFAC sanctions Nicaraguan officials and gold firms.
6 March 2026 · 4 min read
Canaccord Genuity is facing the largest AML penalty ever levied against a broker-dealer, after regulators found the firm deliberately failed to build a functioning compliance programme and filed 150 fewer SARs than it should have. The $80 million sanction sends a clear message on willful misconduct. We've also got enforcement moves from DOJ on tax fraud, State Street's Russian sanctions misstep, and fresh OFAC designations targeting Nicaragua's gold sector. Read on.
In today's brief
- 1 What the largest broker-dealer AML penalty on record reveals about detection gaps at mid-tier firms
- 2 How did fraudsters extract $100m-plus from federal benefit schemes without detection until arrest?
- 3 What does State Street's Russia sanctions penalty signal about custodian compliance infrastructure?
- 4 How do compliance teams screen gold supply chains after OFAC's Nicaragua designations?
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