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Suit follows refusal by the SEC to disclose its enforcement records in response to a FOIA request.
Three of Wall Street’s biggest PE firms are negotiating settlements with the SEC over their employees’ use of banned communication channels.
The SEC brought 784 enforcement actions last year, enforcement director Grewal says the off-channel comms ones go to the heart of his agency’s ability to perform its overseer role.
Reuters’ sources say the SEC has collected thousands of staff messages from major investment firms.
Practical advice on how to approach complying with recordkeeping requirements and federal securities laws.
The SEC said CGMI willfully violated recordkeeping requirements concerning expenses the firm incurred in its underwriting business.
The SEC and CFTC hand out sizable, combined penalties for recordkeeping and supervision failures relating to off-channel communications.
Several US financial services firms disclose their ongoing discussions with US regulators over employees’ use of messaging apps.