The Financial Industry Regulatory Authority fined New York-based Brown Brothers Harriman & Co. (BBH) $8 Million for substantial anti-money laundering compliance failures including, among other related violations, its failure to have an adequate anti-money laundering program in place to monitor and detect suspicious penny stock transactions. BBH also failed to sufficiently investigate potentially suspicious penny stock activity brought to the firm's attention and did not fulfill its Suspicious Activity Report (SAR) filing requirements. For more info visit https://www.finra.org/media-center/news-releases/2014/finra-fines-brown-brothers-harriman-record-8-million-substantial-anti