FINRA's National Adjudicatory Council revised its Sanctions Guidelines to more accurately reflect the levels of sanctions imposed in disciplinary proceedings.
An investment adviser settled SEC charges for failing to properly oversee a third-party contractor hired to remove, wipe and destroy decommissioned hardware containing customers' personal identifying information.
A broker-dealer settled FINRA charges for failing to preserve employees' business-related text messages. The settlement was part of a larger joint agency sweep to assess compliance with recordkeeping and supervision requirements related to "off-channel" communications involving employees' personal devices.
An investment adviser settled SEC charges for failing to timely pay back certain expenses through management fee offsets as well as related failures to disclose its practices to investors.
A brokerage firm settled SEC charges for supervisory failures related to a registered representative's misappropriation of an elderly client's funds.