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Financial Crimes Enforcement Network (FinCEN)

The Financial Crimes Enforcement Network (FinCEN) is a bureau of the US Department of the Treasury that is responsible for implementing and enforcing the Bank Secrecy Act (BSA) and other anti-money laundering (AML) and counter-terrorism financing (CTF) laws and regulations.

FinCEN was established in 1990 and is headquartered in Vienna, Virginia. It plays a key role in the US government's efforts to combat financial crimes, such as money laundering, terrorist financing, and financial fraud.

FinCEN works closely with other federal agencies, state and local law enforcement, and financial institutions to identify, prevent, and prosecute financial crimes. It also issues guidance and advisories to financial institutions to help them comply with AML and CTF laws and regulations and to protect the integrity of the financial system.

FinCEN has the authority to impose civil and criminal penalties on financial institutions and individuals that fail to comply with BSA and other AML and CTF laws and regulations. It also has the authority to require financial institutions to report suspicious activity and to maintain records of certain financial transactions.

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Conditional orders have increased risk due to their reliance on trigger processing, market data, and other internal and external systems like an exchange. Such orders are not sent to the market until specified conditions are met. During that time, system outages with downstream technologies or exchanges may occur. Furthermore, exchanges may impose controls on conditional orders to limit erroneous trades triggering downstream orders. HyperTrader or its subsidiaries may not always be aware of such changes to external controls immediately, leading to some conditional orders not being executed. As such, you need to monitor your conditional orders for reasonability. Conditional orders are “Not Held” orders whose execution instructions are on a best-efforts basis upon being triggered.

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