CFTC-PR-8945-24 (Aug. 14, 2024) CFTC Orders Truist Bank to Pay $3 Million Penalty and Remediate Recordkeeping and Supervision Failures Relating to Widespread Use of Unapproved Communications Methods. Truist Receives Substantially Reduced Penalty for Self-Reporting to the Division of Enforcement Washington, D.C. — The Commodity Futures Trading Commission today issued an order simultaneously filing and settling charges against […]
Category: Recordkeeping Failures
Recordkeeping Failures occur when organizations or individuals neglect to maintain accurate, complete, and up-to-date records of transactions, communications, or other critical information. These failures can lead to legal and regulatory compliance issues, financial discrepancies, operational inefficiencies, and increased vulnerability to fraud or misconduct. Without proper records, businesses may struggle with audit trails, transparency, and decision-making processes, potentially compromising their ability to demonstrate accountability and meet regulatory requirements. Effective recordkeeping is essential for ensuring transparency, maintaining trust with stakeholders, and mitigating risks associated with errors or misconduct.
CFTC-PR-8943-24 (Aug. 14, 2024) CFTC Orders TD Bank and Cowen to Pay Civil Monetary Penalties for Recordkeeping and Supervision Failures for Firm-Wide Use of Unapproved Communication Methods Washington, D.C. — The Commodity Futures Trading Commission today issued two orders simultaneously filing and settling charges against The Toronto Dominion Bank (TD Bank), a swap dealer, and against Cowen and Company (Cowen), […]
SEC-PR-2024-44 (APR. 3, 2024) Source: https://www.sec.gov/newsroom/press-releases/2024-44 Download: SEC-PR-2024-44 ⊗ (PDF) PRESS RELEASE | 2024-44 SEC Charges Advisory Firm Senvest Management with Recordkeeping and Other Failures Washington D.C., April 3, 2024 — The Securities and Exchange Commission today announced charges against registered investment adviser Senvest Management LLC for widespread and longstanding failures to maintain and preserve […]
CFTC-PR-8880-24 CFTC Orders U.S. Bank to Pay $6 Million and Oppenheimer to Pay $1 Million for Recordkeeping and Supervision Failures for Firm-Wide Use of Unapproved Communication Methods Date: Mar. 19, 2024 Date Accessed: Aug. 1, 2024 Source URL: https://www.cftc.gov/PressRoom/PressReleases/8880-24 Categories: CFTC-2403 Introducing Brokers Recordkeeping Failures Supervision Failures Swap Dealers Unapproved Communications OPPENHEIMER & CO. INC. […]
SEC-PR-2024-18 (FEB. 9, 2024) Source: https://www.sec.gov/newsroom/press-releases/2024-18 Download: SEC-PR-2024-18 ⊗ (PDF) PRESS RELEASE | 2024-18 Sixteen Firms to Pay More Than $81 Million Combined to Settle Charges for Widespread Recordkeeping Failures. The Huntington Investment Company self-reported and was ordered to pay lower civil penalties than other firms Washington D.C., Feb. 9, 2024 — The Securities and […]