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SEC’s off-channel comms crackdown eases, compliance professionals say
A Citywire report says that RIAs are reporting softer exams on texts and messaging apps, but compliance teams are not letting their guards down.
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SIFMA urges SEC to modernize communication recordkeeping rules
SIFMA said these rules need to be redrafted so firms can “more effectively manage their relationships with clients through seamless and modern communication.”
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SEC’s Atkins doubles down on cautious regulation in FT interview
“…in more recent years [the SEC] was not grounded in precedent [or] predictability. It would shoot first and then ask questions later,” Atkins said.
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Citi, UBS, BNY and three others fined in CFTC Enforcement Sprint Initiative
Six major banks agreed to pay penalties to resolve compliance violations, most of them receiving maximum cooperation credit.
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FCA’s light touch approach on off-channel comms is a warning shot, not a fine
Industry response to the FCA’s multi-firm review into off-channel communications and a comparison with the US approach.
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Robust recordkeeping and comms monitoring essential says FCA
Study reveals picture of uneven compliance and continued breaches by senior staff.
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FINRA cites ex-Schwab rep for hiding profit-sharing agreement on unapproved comms
Rep allegedly exchanged thousands of text messages and emails with customer he had a profit-sharing agreement with, using personal mobile device.
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Clearing firm fined for surveillance lapses related to potentially manipulative trading
FINRA outlined failure to implement effective supervisory and surveillance practices for trading and business communications recordkeeping.