A firm settled with FINRA for failing to (i) supervise the use of personal email for business-related communications, (ii) retain certain business-related email communications and (iii) adopt written policies and procedures to safeguard customer records and information.
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A firm settled FINRA charges for placing transactions for customers directly with product sponsors, without recording such transactions in the firm's records or supervising their suitability.
SEC Commissioner Mark T. Uyeda highlighted current regulatory challenges concerning (i) the definition of "dealer" under the Exchange Act, (ii) the lack of guidance over cryptocurrencies and (iii) the handling of off-channel communications by broker-dealers.
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.
A broker-dealer/investment adviser settled charges with the SEC for violating recordkeeping requirements in connection with its recording of expenses incurred from the broker-dealer's underwriting activities.