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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInAre firms prepared for wave of messaging fines headed for Britain? | Global Investor Group
The last few years have seen market regulators dole out record numbers of fines to financial institutions over their failure to adequately monitor employee communications on instant messaging applications like WhatsApp. According to Securities and Exchange Commission (SEC) enforcement division chief Gurbir Grewal, the regulator has filed charges against 40 financial firms and imposed more […]
WhatsApp-ening? The SEC’s “Off-Channel” Communications Sweep | Woodruff Sawyer – JDSupra
One recent enforcement trend has been especially impactful to the bottom line, resulting in the SEC and the Commodity Futures Trading Commission (CFTC) penalizing registered entities more than $2 billion in less than two years for a common practice. What is this deeply troubling behavior? Securities or commodities fraud? Try again. Deceptive practices that harm […]
Texting: Wall Street’s Latest Dilemma – WSJ
“Given this kind of zero-tolerance policy, every component of e-communications, every kind of platform is going to be relevant,” said Marc Gilman, general counsel and vice president of compliance at electronic communications compliance provider Theta Lake. “They need to rely on technical support to capture these off-channel business communications.” In addition, the various communication tools […]
‘All Cases Are Important,’ SEC’s Gensler Says | ThinkAdvisor
Speaking at the Securities Enforcement Forum in Washington, Gensler stated that the SEC looks at “high-impact cases.” “When you’re a victim of fraud, misconduct, and abuse, the highest-impact case is the one that affects you — whether you lost $20,000 due to affinity fraud or your life savings in a crypto-related scam,” Gensler said. He […]