$118 million in SEC and CFTC fines continues off-channel comms crackdown
The pace of regulatory enforcement action for recordkeeping failures continues to increase, as both the SEC and CFTC issue more fines for off-channel communications breaches. But two cases reinforce the benefits of self-reporting and cooperation.
Watch out for WhatsApp: Does the FCA plan to follow in the footsteps of U.S. regulators?
There has been no shortage of fines for recordkeeping failures in the U.S., particularly from regulators like the SEC and CFTC – though movement from the U.K.’s primary financial regulator seems to point toward a future concentration on the topic.
C-suite under scrutiny as data mishandling hinders investigation and fails to meet regulatory expectation
C-suite professionals are facing the repercussions of their inability to manage data reporting and controls efficiently. It is vital that senior officials set the 'tone at the top' by maintaining regulatory standards and ensuring that incomplete data submissions are seen as unacceptable.
Regulatory Wrap Episode 41: $1.3M in SEC Fines & Citigroup’s Data Compliance Struggles
In Regulatory Wrap for the week to September 20, Jay Hampshire discusses another fine from SEC for recordkeeping failures in addition to other related data compliance concerns.
By the dozen – SEC fines 12 municipal advisors $1.3 million for off-channel communications
The Securities and Exchange Commission has continued its ongoing crusade against off-channel communications with a spate of recordkeeping fines against 12 municipal advisors.
The SEC Marketing Rule: a short guide
The SEC’s Marketing Rule is a recent addition to the rulebook, and provides guidance on how investment advisory firms can advertise their services. Marketing rule compliance applies to all marketing material produced and promoted by financial firms, from websites to social media.
Regulatory Wrap Episode 40: The SEC Fines 9 Firms $1.24M for Misleading Marketing
In Regulatory Wrap for the week to September 13, Jay Hampshire reviews a recent SEC enforcement for misleading marketing.
Nine firms fined $1.24 million for not playing by SEC’s Marketing Rule
With a $1.24 million penalty representing the largest fine so far as part of the SEC’s ongoing Marketing Rule crackdown, are firms doing enough to ensure their marketing communications are compliant?
Regulatory Wrap Episode 39: $49M in SEC Fines for 6 Firms
In Regulatory Wrap for the week to September 6, Jennie Clarke discusses the continuation of SEC recordkeeping fines, with the most recent being against six agencies for $49 million.
Another day, another SEC fine: The SEC charges six credit agencies $49 million for recordkeeping failures
As the SEC rolls out another combined civil penalty, this time against credit rating agencies for recordkeeping failures, firms must look to ensure tone from the top, while the regulator must implement more robust deterrence methods to prevent further violations.
Regulatory Wrap Episode 38: Whistleblowing in the U.S. vs. U.K.
In Regulatory Wrap for the week to August 30, Jay Hampshire unpicks the difference in the U.S. and U.K. regulatory approach when it comes to whistleblowing.