The SEC’s enforcement unit has sent inquiries to a number of funds and advisers asking for information about their protocols for so-called “off-channel” business communications as recently as last week, the four sources told Reuters. The agency has asked firms to preserve and produce documents and share information on policies related to the use of devices and platforms, the sources said, speaking on condition of anonymity.
The regulatory agency has also asked for details on the firms’ organizational charts and past violations and remediation efforts, two of the sources said.
Details of the investigative “sweep” have not previously been reported. A spokesperson for the SEC declined to comment, saying: “We don’t comment on the existence or nonexistence of a possible investigation.”
‘Enforcement 40’ for 2020
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