Regs levy $120M in fines over off-channel comms with two firms avoiding penalties
By 
Aaron Nicodemus2024-09-24T15:31:00
Regulators continue to hammer firms with fines for violating rules regarding the use of unapproved communication methods by employees, issuing $120 million in fines this week. And for the first time, two firms were not fined because they self-reported their violations.
The Securities and Exchange Commission (SEC) issued $88 million in fines against 11 firms Tuesday, while the Commodity Futures Trading Commission fined two firms a total of $32 million on Monday and Tuesday.
The SEC said that it would not fine Atom Investors and Qatalyst Partners, despite finding violations of the agency’s recordkeeping rules, because both firms self-reported their violations.
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