By Aaron Nicodemus2024-09-17T18:01:00
Fines for off-channel communications use by employees just keep on coming, with 12 municipal advisory firms fined a total of $1.3 million in the latest Securities and Exchange Commission sweep.
Kaufman Hall & Associates, together with Ponder & Company (which Kaufman Hall acquired in May 2023), drew the biggest fine ($325,000) from the SEC in this enforcement sweep, although it was really one fine that applied to two companies.
PFM Financial Advisors and Specialized Public Finance Inc. were each fined $250,000.
2025-01-15T16:24:00Z By Aaron Nicodemus
Twelve more firms have been dinged with fines by the Securities and Exchange Commission for failing to properly supervise employees who used off-channel communications to conduct company business. In this latest round of enforcement actions, nine investment advisers and three broker-dealers will pay a total of $63 million.
2024-09-24T15:31:00Z By Aaron Nicodemus
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.
2024-09-05T14:32:00Z By Aaron Nicodemus
Six credit rating agencies will pay $49 million in fines to the Securities and Exchange Commission for allowing their employees to communicate on company business using nonapproved communication channels like Whats App and WeChat.
2025-09-05T18:10:00Z By Aaron Nicodemus
Deutsche Bank has agreed to pay a $3 million fine and has returned $5 million in fee overcharges to customers as part of a resolution with Hong Kong’s financial services regulator.
2025-09-04T17:31:00Z By Adrianne Appel
The majority owner of a Pennsylvania investment firm faces 100 years of prison time and huge fines for allegedly running a $770 million Ponzi scheme centered on an ATM company he also owned.
2025-09-03T17:43:00Z By Adrianne Appel
The Federal Trade Commission (FTC) proposed an enforcement action against Disney for allegedly collecting personal information about children, and then threw salt in the wound by calling the company out in an alert emailed to an untold number of businesses.
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