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.
News & Insights
30 News Results
The SEC and the CFTC ordered significant civil monetary penalties for recordkeeping violations in connection with unauthorized off-channel communication methods.
A broker-dealer firm settled CFTC charges for engaging in market manipulation of issuer swaps.
A swap dealer and its affiliated broker-dealer/FCM settled CFTC and SEC charges for failing to (i) prohibit the use of unapproved communication methods, (ii) maintain and produce required records and (iii) adequately supervise its businesses.
Sixteen dually registered entities settled SEC and CFTC charges for recordkeeping and supervision violations related to "off-channel" communications involving employees' personal devices.