- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Adrianne Appel2023-11-01T16:00:00
Businesses must step up their internal policing and do a better job of reporting violations to the Securities and Exchange Commission (SEC), according to the agency’s head of enforcement.
Gurbir Grewal, director of the SEC’s Enforcement Division, addressed the agency’s fiscal year 2023 performance during a discussion at the SEC Securities Enforcement Forum 2023 held Oct. 25.
“We had an incredibly productive year” of enforcements, said Grewal regarding FY2023, which ended Sept. 30.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec.
Register for free
Access one free, non-premium article each month.
Complimentary CPE webcasts, resources, and e-Books.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
The new messaging on use off-channel communications for business should be clear: What was done before is no more. It cannot continue. The stakes are too high.
Firms monitoring employee use of off-channel communications for business purposes face numerous obstacles. How much is enough, in the opinion of regulators? How much is too much, in the eyes of employees? Determinations must be made as regulators crack down.
A big year for disgorgement helped the Securities and Exchange Commission to its second highest total of financial remedies ordered in a single year in fiscal year 2023.
TD Bank said it set aside $450 million to settle regulatory and law enforcement investigations, including by the Department of Justice, into its anti-money laundering and Bank Secrecy Act programs.
Despite significant issues outside the control of most chief compliance officers, some regulators have signaled more individual liability cases are to be expected. Will accepting the wrong job, in hindsight, make it your last?
RBC Capital Markets agreed to pay nearly $769,000 to settle allegations levied by the Financial Industry Regulatory Authority, in part, over sending inaccurate information in trade confirmations to customers over nearly a decade.
