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Search resuls for: "Chris Prentice Carolina Mandl"


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REUTERS/Jim Bourg/File Photo Acquire Licensing RightsNEW YORK, Sept 29 (Reuters) - The U.S. securities regulator on Friday said it had fined 12 companies, including brokers, investment advisers and credit rating firms, for record keeping failures. The Securities and Exchange Commission (SEC) said the companies, including Interactive Brokers Corp, Fifth Third Securities and Nuveen Securities, agreed to pay a total of $79 million and admitted they violated the record keeping rules. Credit rating agencies DBRS Inc. and Kroll Bond Rating Agency, LLC also agreed to pay civil penalties to settle SEC charges related to the record-keeping failures, the regulator added. Employees at both firms failed to preserve electronic communications, including off-channel messages on personal and work-issued devices, the SEC said. To settle the charges, DBRS agreed to pay $8 million in civil penalties and KBRA agreed to pay $4 million in civil penalties, the SEC said.
Persons: Jim Bourg, Kroll, DBRS, KBRA, Chris Prentice, Carolina, Barbara Lewis Organizations: U.S . Securities, Exchange Commission, SEC, REUTERS, Securities, Interactive Brokers Corp, Fifth Third Securities, Nuveen Securities, Reuters, Wall, DBRS Inc, Kroll Bond Rating Agency, Employees, Thomson Locations: Washington, U.S
The headquarters of the U.S. Securities and Exchange Commission (SEC) are seen in Washington, July 6, 2009. One said some firms could pay as much as $50 million. The SEC has previously negotiated two other large group settlements as part of its "off-channel" communications probe. In August, regulators fined nine Wall Street firms, including Wells Fargo (WFC.N) and Societe Generale (SOGN.PA), a combined $549 million over employees' use of personal messaging apps. In September 2022, it fined 16 firms, including Goldman Sachs, Morgan Stanley, Citigroup and Bank of America, $1.8 billion for similar lapses.
Persons: Jim Bourg, Spokespeople, Oppenheimer, Voya, Wells, Goldman Sachs, Morgan Stanley, JPMorgan Chase, Chris Prentice, Carolina, Michelle Price, Jacqueline Wong Organizations: U.S . Securities, Exchange Commission, SEC, REUTERS, Reuters, Truist Financial Corp, US Bancorp, Voya Financial, LPL, Interactive, Oppenheimer, Fifth Third Bancorp, Fifth, Truist, Wall Street, Societe Generale, Citigroup, Bank of America, JPMorgan, Thomson Locations: Washington
In those cases, the SEC asked companies to review staff messages and report to the agency how many discussed work. SEC staff reviewed only a sample of messages themselves, according to three sources with knowledge of the previous investigations. As with broker-dealers, the SEC initially sought details on investment advisers' record-keeping policies. The SEC later demanded that the investment advisers hand over the messages, the sources said. The agency is ignoring important differences in investment advisers' recordkeeping requirements, said Jennifer Han, the MFA's executive vice president and chief counsel.
Persons: Carlo Allegri, Wall, Carlyle, Gary Gensler, Jaclyn Grodin, Storrs, JPMorgan Chase, Wells, Goldman Sachs, Morgan Stanley, Jennifer Han, Chris Prentice, Michelle Price, Marguerita Choy Organizations: New York Stock, REUTERS, Securities and Exchange Commission, SEC, Reuters, Carlyle Group, Apollo Global Management, KKR, Co, TPG, Blackstone, Citadel, Apollo, Goulston, JPMorgan, Bank of America, Association, Bloomberg, Carolina, Thomson Locations: Manhattan, New York City , New York, U.S
Total: 3