The US Securities and Exchange Commission (SEC) recently fined 12 firms a total of $88.3 million for failing to maintain and preserve electronic communications.
This action is part of the SEC's ongoing crackdown on off-channel communication violations that began in 2021. Financial firms are required to preserve written communications for regulatory purposes. However, the SEC has uncovered widespread use of unapproved communication methods across the industry.
This content is available to paid Members of Starling Insights.
If you are a Member of Starling Insights, you can sign in below to access this item.
If you are not a member, please consider joining Starling Insights to support our work and get access to our entire platform. Enjoy hundreds of articles and related content from past editions of the Compendium, special video and print reports, as well as Starling's observations and comments on current issues in culture & conduct risk management.
Join The Discussion
Sign in and be the first to comment.