Wall Street firms to pay over $470 million to settle with US regulators over texting
Adds TD and RBC's response in paragraph three
Aug 14 (Reuters) -Another group of broker-dealer and investment advisers have agreed to pay over $470 million to U.S. regulators to settle civil charges they violated recordkeeping rules, the U.S. Securities and Exchange Commission and Commodity Futures Trading Commission said in statements on Wednesday.
Toronto-Dominion Bank's TD Securities, BNY and Truist were among the Wall Street firms that settled charges they violated regulators' rules requiring broker-dealers and investment advisers to maintain records of work-related communications, the SEC and CFTC said.
Representatives for most firms did not respond immediately to requests for comment. A spokesperson for BNY said the firm takes its regulatory responsibilities seriously, while TD said it was investing in technology and improving its electronic communications policies. RBC said it would continue to enhance its compliance protocols.
The penalties mark the latest wave of a sweeping multi-year enforcement initiative targeting Wall Street's use of so-called "off channel" work communications such as text and WhatsApp messages in breach of rules which require firms to retain certain work-related communications.
Below is a full list of the firms and the penalties they agreed to pay.
Ameriprise Financial Services, LLC: $50 million penalty to the SEC | |
Edward D. Jones & Co., L.P.: $50 million penalty to the SEC | |
LPL Financial LLC: $50 million penalty to the SEC | |
Raymond James & Associates, Inc.: $50 million penalty to the SEC | |
RBC Capital Markets, LLC: $45 million penalty to the SEC | |
BNY Mellon Securities Corporation, Pershing LLC: $40 million penalty to the SEC | |
TD Securities (USA) LLC, TD Private Client Wealth LLC and Epoch Investment Partners, Inc: $30 million penalty to the SEC, $75 million to the CFTC | |
Osaic Services, Inc., Osaic Wealth, Inc.: $18 million penalty to the SEC | |
Cowen and Company, LLC, Cowen Investment Management LLC: $16.5 million penalty to the SEC, $3 million to the CFTC | |
Piper Sandler & Co.: $14 million penalty to the SEC | |
First Trust Portfolios L.P.: $8 million penalty to the SEC | |
Apex Clearing Corporation: $6 million penalty to the SEC | |
Truist Securities, Inc., Truist Investment Services, Inc. and Truist Advisory Services, Inc: $5.5 million penalty to the SEC, $3 million to CFTC | |
Cetera Advisor Networks LLC, Cetera Investment Services LLC: $4.5 million penalty to the SEC | |
Great Point Capital, LLC: $2 million penalty to the SEC | |
Hilltop Securities Inc.: to pay a $1.6 million penalty to the SEC | |
P. Schoenfeld Asset Management LP: $1.25 million penalty to the SEC | |
Haitong International Securities (USA) Inc.: $400,000 penalty to the SEC |
Reporting by Chris Prentice and Douglas Gillison, additional reporting by Nivedita Balu; Editing by Josie Kao
免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料,僅適用於教育/資訊類用途,不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議,或是交易價格紀錄,或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。