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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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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.
2024-07-26T19:18:00Z By Jeff Dale
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
2024-07-26T15:51:00Z By Aaron Nicodemus
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
2024-07-26T13:36:00Z By Adrianne Appel
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
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