- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2024-02-09T17:05:00
The ongoing off-channel communications sweep by the Securities and Exchange Commission (SEC) netted 16 more broker-dealers and investment advisers, with the latest wave of fines totaling more than $81 million.
The firms each admitted they violated the recordkeeping provisions of federal securities laws when their employees communicated about company business on nonauthorized channels that were not supervised, monitored, recorded, or archived. In addition to paying fines, which ranged from $16.5 million to $1.25 million, the firms each took steps to remediate the issues, the SEC said Friday in a press release.
The firms and the amounts fined were:
2024-04-04T02:48:00Z By Kyle Brasseur
Registered investment adviser Senvest Management agreed to pay $6.5 million as part of a settlement with the Securities and Exchange Commission addressing admitted off-channel communications violations and separate code of ethics failures.
2024-03-19T16:19:00Z By Kyle Brasseur
The Commodity Futures Trading Commission announced settlements with U.S. Bank and Oppenheimer & Co. for admitted recordkeeping and supervision failures regarding employee use of off-channel communications for conducting business.
2024-03-06T18:51:00Z By Kyle Brasseur
Ameriprise Financial disclosed it recorded a $50 million accrual related to the resolution of a Securities and Exchange Commission probe into use of off-channel communications by its employees for conducting business.
2025-06-12T15:51:00Z By Neil Hodge
Europe’s pioneering data protection legislation turned seven years old in May, but the compliance and enforcement difficulties that have dogged the rules since they came into force look set to present both companies and data regulators with fresh headaches for some time to come.
2025-06-11T15:12:00Z By Adrianne Appel
The Department of Justice has charged the founder of cryptocurrency company Evita with 22 violations for allegedly laundering more than $500 million through U.S. banks and cryptocurrency exchanges, on behalf of sanctioned Russian entities.
2025-06-07T01:41:00Z By Oscar Gonzalez
The Securities and Exchange Commission Chair Paul Atkins explained his agency’s shift on cryptocurrency regulation to a Senate committee as legislators bargain over President Donald Trump’s “One Big Beautiful Bill” and the GENIUS Act, which would have the federal government invest heavily in cryptocurrency.
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