SEA 1934 Rule 17a-4(b)(4)
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SEC still live and kicking as 12 firms fined combined $63m+ in recordkeeping failure charges
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.
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FINRA disciplinary action update #30
Disciplinary decisions issued September 15 – 21, 2023.
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SEC says JPMorgan mistakenly deleted 47 million emails
JPMorgan must pay a $4m penalty for mistakenly deleting emails, some of which had subsequently been requested in regulatory investigations.
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HSBC and Scotia Capital charged for off-channel comms recordkeeping failures
SEC and CFTC charge HSBC and Scotia Capital with recordkeeping failures using off-channel comms.
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FINRA disciplinary action update #6
Disciplinary decisions issued March 24 – 30, 2023.
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FINRA member firm fined $1.5m over business comms failings
Examples include breaches over recordkeeping, supervision of personal messaging and conflicts of interest.