26 Firms Pay More Than $390 Million for E-Comm Recordkeeping Failures (08/14/24)
In a continued theme, the SEC announced charges against 26 investment advisers and broker-dealers for widespread and longstanding failures by the firms and their personnel to maintain and preserve electronic communications related to the firm’s broker-dealer and/or investment advisory business. The sweep included large household names as well as smaller lesser-known firms, with civil penalties ranging from $400,000 to $50 million.
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