Regulatory Wrap Episode 1

Regulatory Wrap Episode 1: SEC Charges $300 Million to Wall Street Firms

In Regulatory Wrap for the week to August 11, 2023, we look at recordkeeping fines issued by the SEC, and some of the strictest messaging yet.

11 August 2023 1 mins read
By Jennie Clarke

In Regulatory Wrap for the week to August 11, 2023:

In this Regulatory Wrap, we look at the Securities and Exchange Commission’s (SEC) latest enforcement action, in which it charged 11 Wall Street firms with recordkeeping failures. In the same week, we saw some of the strictest messaging yet from regulators regarding off-channel communications. Are regulators losing patience with continued non-compliance?


1. Despite a summer lull, the SEC has issued over half a billion dollars to 11 Wall Street firms for recordkeeping failures

2. Alongside this enforcement, we saw the most severe regulatory messaging issued to date from CFTC Commissioner, Christy Goldsmith Romero

3. We ask whether financial regulators have lost patience with continued non-compliance

This Regulatory Wrap is brought to you by Global Relay’s Head of Content, Jennie Clarke.

Global Relay has a suite of compliance tools to help you meet recordkeeping requirements and mitigate the risk of being featured in the SEC’s Enforcement Results.