Mutual Fund Dealer

The Challenge

The incoming chief compliance officer of a mutual fund dealer (company name withheld for privacy reasons) was surprised at how few suspicious transaction reports were being reported by the firm’s financial advisors. He suspected that its anti-money laundering programming lacked impact because it focused too much on the technicalities of the law.

The Solution worked with the company to produce a two-hour televised seminar that addressed not only the legal requirements, but also key behavioural issues. The firm's CEO kicked off the seminar, stressing the importance of ethical behaviour to the firm’s reputation. In another well-received segment, a former undercover police officer underscored the widespread nature of money laundering and its connection to white collar crime. There were also off-air working group sessions, in which participants role-played the kinds of encounters with money laundering they could possibly face.

The Result

The seminar, broadcast to 16 locations across Canada, was lively and highly rated by the advisors. The company saw a noticeable lift in the reporting of suspicious transactions.

View the program video Compliance