Supervision Failures News Today

CFTC Orders Four Financial Institutions to Pay Total of $260 Million for Recordkeeping and Supervision Failures for Widespread Use of Unapproved Communication…

In 2018, an investment professional sued the firm he co-founded for wrongful termination and federal privacy law violations associated with the former employer’s remote accessing into a...

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,...

INTRODUCTION - On 7 February 2023, the U.S. Securities and Exchange Commission (SEC) Division of Examinations (the Division) released its 2023 examination priorities. As expected, the...

"A monitor is an independent third party who assesses and monitors a company's adherence to the compliance requirements of an agreement that was designed to reduce...

The SEC Division of Examinations released its 2023 examination priorities. Alongside continuing SEC sweep examinations into electronic communication and record keeping, firms should be on alert for compliance with communication policies and demonstrate robust recordkeeping.

Users of ephemeral messaging applications may intend that their messages be—as the word “ephemeral” suggests—short lived, but the real-world consequences and legal ramifications from...

The Commodity Futures Trading Commission today issued an order simultaneously filing and settling charges against JPMorgan Chase Bank, N.A., J.P. Morgan Securities LLC, and J.P. Morgan Securities plc (collectively, JPMorgan), for failing to maintain, preserve, and produce records that were required to be kept under CFTC recordkeeping requirements, and failing to diligently supervise matters related to its businesses as CFTC registrants.