Huge Fine Over Bank Texts Signals Books, Records Crackdown

By Ryan Rohlfsen, Genieva DePass and Jennifer Cullinane (October 4, 2022, 7:15 PM EDT) — On Sept. 27, the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission announced a combined $1.8 billion settlement with 15 broker-dealers and one affiliated investment adviser for their failure to preserve employees’ communications on unauthorized messaging apps, in violation of federal securities laws.[1]…

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