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.
House Financial Services Committee Ranking Member Maxine Waters (D-CA) requested analysis and recommendations from Treasury and the SEC on the Republican-proposed legislation that would establish a digital asset framework.
A cryptocurrency platform settled charges brought by the New York State Attorney General for (i) failing to register as a securities or commodities broker-dealer and (ii) falsely representing itself as a cryptocurrency exchange.
House Financial Services Committee Chair Patrick McHenry (R-NC) and House Agriculture Committee Chair Glenn Thompson (R-PA) proposed legislation that would establish a digital asset framework and provide for related joint rulemaking from the CFTC and the SEC.