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In February 2014, the Financial Industry Regulation Authority, the self-regulatory body for the U.S. securities industry, suspended a former global anti-money laundering compliance officer at Brown Brothers Harriman & Co. and assessed a record $8 million fine against the firm for its inadequate Bank Secrecy Act/anti-money laundering program and lack of oversight related to suspicious penny stock transactions. The former compliance officer personally paid $25,000 under the settlement he and Brown Brothers Harriman entered with FINRA.

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