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.
A brokerage firm settled SEC charges for supervisory failures related to a registered representative's misappropriation of an elderly client's funds.
A broker-dealer settled FINRA charges for failing to adequately supervise the outside business activities of its registered representatives.