To Pay Penalties Totaling More than $1.1 billion

SEC Charges 16 Wall Street Firms with Widespread Recordkeeping Failures


Autor: Funds Society, Miami

  1. The firms cooperated with the investigation by gathering communications from the personal devices of a sample of the firms’ personnel
  2. The failings occurred across all of the 16 firms and involved employees at multiple levels of authority, including supervisors and senior executives
  3. In addition to the significant financial penalties, each of the firms was ordered to cease and desist from future violations of the relevant recordkeeping provisions and were censured