Books and Records

One of the seven FAQs addresses IA recordkeeping requirements tied to T+1 transition

Senvest failed to implement procedures to monitor whether its employees were following the firm’s policies concerning work-related communications .... At least three senior Senvest officers ...

Violators included “supervisors and senior-level employees”—including some attached to compliance—who used platforms, such as WhatsApp and text messaging, contrary to firm P&Ps

The CFTC enters the regulatory fray over firms' use of off-channel communications for work

'You cannot get deals if you’re not texting and your competitors are,' FirmScribe CEO says from PFCFO New York Forum.

Broker-dealer was charged with failing to reasonably supervise the use of personal e-mails for business-related communications

In the new legal cases targeting advisers, the SEC cited their responsibilities under Advisers Act section 204 (reports by IAs) and the books and records ...

Commission staff uncovered Cambridge’s misconduct after commencing a risk-based initiative to investigate the use of off-channel and unpreserved communications at broker-dealers. Cambridge has initiated a ...

During the time period that NMIS failed to maintain and preserve off-channel communications that its personnel sent and received related to NMIS’s broker-dealer business, NMIS ...

Oppenheimer’s supervisors, who were responsible for supervising junior employees, routinely communicated off-channel using their personal devices. In fact, senior management, managing directors, and other Oppenheimer ...