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Recordkeeping Requirements Mobile Devices

BCLP

SEC Enforcement Sweep Regarding Off-Channel Communications Nets 26 More Settlements and Over $390 Million in Civil Penalties

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On August 14, 2024 the U.S. Securities and Exchange Commission (the “SEC”) announced settled charges against 26 SEC-registered investment advisers, broker-dealers and dually-registered broker-dealers and investment advisers...more

White & Case LLP

SEC Continues Focus on Off-Channel Communications

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On August 14, the U.S. Securities and Exchange Commission (“SEC”) announced yet another wave of enforcement actions related to widespread “off-channel communications,” charging an additional 26 firms with failing to maintain...more

EDRM - Electronic Discovery Reference Model

Revolutionary Smartphone Data Collection Technology Helps Corporations Enforce and Comply with Regulatory Rules

The use of smartphones in the workplace is commonplace. Smartphones can offer many benefits to employees and employers, such as increased productivity, communication, collaboration, and flexibility. Hence, many companies...more

BCLP

SEC Enforcement Sweep Regarding Off-Channel Communications

BCLP on

On February 9, 2024 the U.S. Securities and Exchange Commission (the “SEC”) announced charges against 16 registered investment advisers and broker-dealers for pervasive recordkeeping failures related to off-channel...more

King & Spalding

Recent Enforcement Trends Regarding the Use of Off-Channel Communications on Personal Devices

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What U.K. Firms Need to Know - INTRODUCTION - Over the past decade, the use of messaging applications, such as WhatsApp, for business purposes as an alternative to traditional email has grown exponentially. Ease of use...more

Skadden, Arps, Slate, Meagher & Flom LLP

Investment Management Update - November 2023

...SEC Adopts Amendments to Fund Names Rule - On September 20, 2023, the U.S. Securities and Exchange Commission (SEC) adopted amendments to Rule 35d-1 under the Investment Company Act of 1940 (the Fund Names Rule) as well...more

Holland & Knight LLP

Do Not Delete: SEC and DOJ Send Serious Messages on Preserving Ephemeral Communications

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Ages ago, hieroglyphics were painstakingly etched into stone. They communicated various types of messages, from fables to business transactions, and lasted thousands of years. Today, we still communicate the same type of...more

BakerHostetler

SEC and CFTC Continue Crackdown on Financial Firms Over Off-Channel Communications

BakerHostetler on

The SEC and CFTC settlements with HSBC and Scotia Capital come after years of federal regulators’ and prosecutors’ steadily increasing scrutiny of off-channel communications. Anchoring these settlements are long-standing...more

Vinson & Elkins LLP

Don’t Text and Trade: SEC Continues Investigation into Wall Street Communications

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In the wake of the collapse of two major U.S. banks, America’s public attention has refocused once again on the oversight and integrity of the financial markets. Amidst this backdrop, on March 10, 2023, Edward D. Jones &...more

Seward & Kissel LLP

[Webinar] SEC Spotlight: Off-Channel Communications and Recordkeeping - March 9th, 12:00 pm - 12:30 pm EST

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During this 30-minute webinar, Seward & Kissel partners from the Firm’s Government Enforcement and Internal Investigations Group will discuss the SEC’s recent enforcement actions regarding recordkeeping failures related to...more

Eversheds Sutherland (US) LLP

Compliance Tips: Broker-Dealer and Adviser Use of Personal Devices

Now that the dust has settled on the SEC’s enforcement action against fifteen (15) broker-dealers and an investment adviser for violations of SEC recordkeeping rules applicable to the use of personal devices and off-channel...more

Fisher Phillips

Web Exclusive: Should Employees Receive Compensation For Off-The-Clock Cell Phone Use?

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You might hate to admit it, but it’s true: mobile devices are the adult version of a toddler’s teddy bear. They give us comfort and a sense of belonging. We carry them everywhere and traveling without them makes us feel like...more

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