FINRA, the SEC and the Commodity Futures Trading Commission fined Interactive Brokers for failing to properly support its own anti-money laundering program.
Lantern Investments Chief Compliance Officer Wendy Lanton will help represent small firms on the regulatory agency's board of governors, while Securities America's Jim Nagengast will continue to represent larger firms.
For years, banks and funds have talked about the benefits of bringing in a wider set of perspectives, but the data show they’re still falling short.