Alyssa Barcheers’ Post

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Managing Director at IQ-EQ

Yesterday the SEC announced twenty-six more enforcement actions and $390M in fines for recordkeeping violations by investment advisers and broker dealers. What did these firms do? They failed to properly archive all electronic communications used to discuss firm business. What should you do? Make t-shirts that say, "Don't use unarchived channels for firm business!" and implement a policy requiring all employees to wear them on Fridays. (This is not legal advice.) #sec #privatefunds #regulatorycompliance #investmentadviser #brokerdealer #cco #enforcement

Twenty-Six Firms to Pay More Than $390 Million Combined to Settle SEC’s Charges for Widespread Recordkeeping Failures

Twenty-Six Firms to Pay More Than $390 Million Combined to Settle SEC’s Charges for Widespread Recordkeeping Failures

sec.gov

Howard Fischer

Partner at Moses & Singer LLP

1mo

Actually, not bad advice.

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