Other news includes a host of CFPB settlements, an OCC fine against former Wells Fargo execs, and a massive fine against Toyota for emission reporting deception.

The charges reflect the SEC’s sustained focus on accurate cybersecurity statements.

The SEC said the company represented to private fund investors that the firm was voluntarily complying with AML due diligence laws despite actual processes for same being used.

The 11th-hour lawsuit accused Musk of failing to disclose his stake in Twitter in a timely manner as he attempted to buy the company in 2022.

Each firm used unapproved communication methods, or off-channel communications, to send and receive messages that were required to be maintained under the securities laws, the SEC said.

SEC says BMO failed to properly supervise employees who sold certain bonds, but notes it has remediated lexicons, policies and training in this area.

The action marks the second time Liquidnet has been fined for weak customer information protections.

Other news includes an expected UBS fine in the hundreds of millions, a CFPB rule excluding medical debt from credit reports, and key US agency departures.