off channel communications Archives

26 Firms Fined $392 Million | Recordkeeping Failures

SEC Releases Introduction On August 14th, 2024, nearly $400 million in charges were filed against twenty-six (26) Firms by the SEC for widespread recordkeeping failures. Recordkeeping failures have continued to be a top […]

$81 Million Fines for Recordkeeping Failures (RIAs/BDs)

SEC Releases Introduction The SEC just announced that sixteen (16) Firms have been penalized $81 Million for widespread and longstanding recordkeeping failures. The types of Firms charged were: Affiliated Investment […]

Electronic Communication Recordkeeping and SEC Enforcements

Vigilant Insights Introduction Electronic communication recordkeeping and supervision continue to be a priority for the SEC during Examinations; they have indicated that the fines will […]

Importance of Maintaining Records of Communications | Will Clark Insights

Vigilant Insights Off-channel communication violations continue to be a costly compliance mistake in the securities industry. Almost $549 million in fines have been handed out in the past month. In […]

Recent SEC Recordkeeping Charges | Vigilant Reacts

Vigilant Insights Brief Introduction As recently reported, the SEC has announced that there have been 11 Wall Street Firms charged with widespread recordkeeping failures totaling combined penalties of […]

Off-Channel Communication Still a Major Regulatory Focus

NEWS AND ALERTS Brief Introduction BNP Paribas, along with its broker-dealer, has agreed to an undisclosed fine with regulators related to employee off-channel communications. It […]