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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2024-04-04T02:48:00
Registered investment adviser Senvest Management agreed to pay $6.5 million as part of a settlement with the Securities and Exchange Commission (SEC) addressing admitted off-channel communications violations and separate code of ethics failures.
Senvest joined the growing list of firms penalized by the SEC for failing to maintain and preserve certain electronic communications by employees for conducting business. The firm’s violations occurred between January 2019 and December 2021 and were observed among senior managers, despite Senvest policies and procedures stating the use of unapproved electronic communication methods was not permitted, the SEC announced in a press release Wednesday.
Like its counterparts, Senvest was required by the SEC to retain a compliance consultant to review its policies and procedures regarding the retention of off-channel communications and its framework for addressing related noncompliance by its employees.
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News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
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Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
2024-06-18T15:10:00Z By Aaron Nicodemus
Two senior officials from the Securities and Exchange Commission and Commodity Futures Trading Commission described how both agencies are committed to rooting out off-channel communications among registered entities for the long term.
2024-04-08T17:35:00Z By Aaron Nicodemus
Sanjay Wadwha, deputy director of the SEC’s Enforcement Division, discussed the agency’s rationale for issuing widely disparate penalties for off-channel communications recordkeeping violations, as well as violations of its amended marketing rule.
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.
2024-12-03T21:32:00Z By Aaron Nicodemus
German petrochemical parts supplier Aiotec agreed to pay $14.5 million to settle allegations that it engaged in a four-year conspiracy to dismantle and ship a plastics manufacturing plant owned by a U.S. company to Iran, in violation of U.S. sanctions.
2024-12-03T17:48:00Z By Aaron Nicodemus
Kiromic BioPharma will pay no fine to the Securities and Exchange Commission after self-reporting that it failed to disclose material information about two cancer drugs to investors.
2024-11-26T19:59:00Z By Jeff Dale
The U.K. Financial Conduct Authority fined the London branch of Australian-based Macquarie Bank Limited more than 13 million pounds (U.S. $16.3 million) for “serious control failures” that allowed a trader to conceal hundreds of fictitious trades over a 20-month period.
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