Five broker-dealers, three dually registered broker-dealers and investment advisers, and two affiliated investment advisers settled charges with the SEC and CFTC for recordkeeping violations after failing to preserve electronic business-communications made using their personal devices.
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The SEC and the CFTC ordered significant civil monetary penalties for recordkeeping violations in connection with unauthorized off-channel communication methods.
The SEC set a comment deadline on amendments to NFA compliance rules and interpretations related to AML suspicious activity report confidentiality.
Sixteen dually registered entities settled SEC and CFTC charges for recordkeeping and supervision violations related to "off-channel" communications involving employees' personal devices.
The SEC adopted changes to the exemptions for certain clearing agencies and broker-dealer/futures commission merchants concerning the portfolio margining of swaps and security-based swaps that are cleared credit default swaps.