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Broker-Dealers

The SEC claims the defendants failed to comply with both Reg BI's "Care Obligation" and "Compliance Obligation"
Thousands of instant messages sent and received through reps' cell phones not captured, reviewed, retained
FINRA calling out the recent blossoming of multiple cases involving books and records violations, an exam focus
Temporary hold and trusted contact provisions seen as "critical tools in the fight against elder financial abuse"
System "often failed" to correctly identify and implement purchase limits on Class C shares when lower cost A shares available
'The rule proposal is not needed.' Principal 'traders are already subject to anti-fraud and anti-manipulation provisions of the Exchange Act'
System changes triggered a programming defect in BIDS trade advertising software
The AML threat landscape continues to evolve along with rules and regulations
Case is the first ever enforcement action under Investment Company Act section 11
The settlement with Aaron Capital represents one of the first Form CRS cases originated by FINRA
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