News & Analysis as of

Enforcement Actions Recordkeeping Requirements Civil Monetary Penalty

Mitchell, Williams, Selig, Gates & Woodyard,...

Refrigerant Regulations/Air Enforcement: U.S. Environmental Protection Agency and East Brunswick, New Jersey HVAC Company Enter...

The United States Environmental Protection Agency (“EPA”) and Gold Medal Service (“GMS”) entered into an April 7th Consent Agreement and Final Order (“CAFO”) addressing an alleged violation of the Clean Air Act regulations 40...more

Katten Muchin Rosenman LLP

CFTC Acting Chairman Pham Announces Effort to Quickly Resolve Recordkeeping and Reporting Investigations and Pledges Additional...

During her keynote address at the Futures Industry Association’s International Futures Industry Conference, BOCA50, CFTC Acting Chairman Caroline D. Pham announced a new effort to encourage market participants to resolve open...more

Holland & Knight LLP

A Long Winter's Nap? SEC Off-Channel Communications Enforcement May Draw to a Close

Holland & Knight LLP on

The SEC's wave of enforcement actions concerning "off-channel" communications did not abate in 2024. In total, the SEC announced more than 70 firms agreed to pay more than a half-billion dollars combined to settle charges for...more

Davis Wright Tremaine LLP

Broker-Dealer Disciplinary Actions: Takeaways From 2024 (So Far)

The U.S. Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), and the Exchanges were active across a host of regulatory issues impacting fintech companies and broker-dealers during...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Whistleblower Update: SEC, DOJ Still Focusing on Employment Agreements and Written Policies, Off-Channel Communications

The U.S. Securities and Exchange Commission (SEC) brought more actions targeting regulated entities for recordkeeping violations related to employees using noncompany communications platforms, and both the SEC and the U.S....more

BCLP

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

BCLP on

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

Stark & Stark

More Than $390 Million in Penalties for Recordkeeping Failures

Stark & Stark on

The Securities and Exchange Commission (SEC) announced charges against 26 broker-dealers, investment advisers, and dually-registered firms for widespread and longstanding failures to maintain and preserve electronic...more

Mayer Brown

WhatsApp All Over Again: The SEC Brings More Recordkeeping Charges Against Broker-Dealers and Investment Advisers for Off-Channel...

Mayer Brown on

On February 9, 2024, the Securities and Exchange Commission (SEC) announced charges against five broker-dealers, seven dually registered broker-dealers and investment advisers, and four affiliated investment advisers for...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Air Enforcement: Arkansas Department of Energy & Environment - Division of Environmental Quality and Monticello Polystyrene...

The Arkansas Department of Energy & Environment – Division of Environmental Quality (“DEQ”) and Drew Foam Companies, Inc. (“Drew”) entered into an October 16th Consent Administrative Order (“CAO”) addressing an alleged...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Air Enforcement: Arkansas Department of Energy & Environment - Division of Environmental Quality and Searcy Plastic Package...

The Arkansas Department of Energy & Environment – Division of Environmental Quality (“DEQ”) and The Bryce Company, LLC (“Bryce”) entered into an October 3rd Consent Administrative Order (“CAO”) addressing alleged violations...more

Goodwin

SEC and CFTC Send Powerful Message With $2 Billion in Fines Related to Social Media and Text Recordkeeping Lapses

Goodwin on

​​​​​​​The SEC and CFTC recently charged 11 large financial institutions and their affiliates for failing to collect, monitor, and preserve communications over WhatsApp and other messaging services. These settlements follow a...more

Robinson & Cole LLP

With $1.1 Billion Penalty Deal, SEC Joins DOJ in Firing Warning Shot at Financial Services Industry About Outdated Employee...

Robinson & Cole LLP on

Last week, the United States Securities and Exchange Commission (SEC) fined 16 Wall Street firms a total of $1.1 billion for recordkeeping violations based on the failure to maintain employees’ electronic communications, such...more

Cadwalader, Wickersham & Taft LLP

Eleven Financial Institutions Pay $700 Million to Settle Recordkeeping and Supervision Violations Related to Off-Channel Business...

On September 27, the Commodity Futures Trading Commission (“CFTC”) issued orders to settle charges against 11 major U.S. and international financial institutions and their swap dealer (“SD”) and futures commission merchant...more

BCLP

Financial Professionals Texting Clients? SEC Signals Compliance Failures Can Lead to Significant Penalties

BCLP on

On September 23, 2020, the U.S. Securities and Exchange Commission (“SEC”) entered an Order Instituting Administrative and Cease and Desist Proceedings (“Order”) against a broker-dealer, JonesTrading Institutional Services,...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Storage Tank Enforcement: Tennessee Department of Environment and Conservation Order Issued to Warren County Memorial Airport

The Tennessee Department of Environment and Conservation (“TDEC”) issued a proposed Order and Assessment (“Order”) to Warren County, Tennessee (“Warren County”), for alleged violation of certain provisions of the Tennessee...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Storage Tank Enforcement: United States Environmental Protection Agency and Salina, Kansas, Underground Storage Tank Owner Enter...

The United States Environmental Protection Agency (“EPA”) entered into a September 12th Expedited Settlement Agreement (“ESA”) with a Salina, Kansas, underground storage tank (“UST”) owner addressing an alleged violation of...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Air Enforcement: Mississippi Commission on Environmental Quality and Blue Mountain, Mississippi Facility Enter into Agreed Order

The Mississippi Commission on Environmental Quality (“MCEQ”) and Blue Mountain Production Company (“Blue Mountain”) entered into a September 26th Agreed Order (“AO”) addressing alleged violations of a Title V Operating Permit...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Air Enforcement: U.S. Environmental Protection Agency and Winchester, Kentucky Dairy Enter into Expedited Settlement Agreement

The United States Environmental Protection Agency (“EPA”) and Kroger Limited Partnership II d/b/a Winchester Farms Dairy (“Winchester”) entered into an August 14th Expedited Settlement Agreement (“ESA”) addressing alleged...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - September 2018

ANTICORRUPTION DEVELOPMENTS - Petrobras Settles with U.S. Authorities Over Alleged FCPA Violations - On September 27, 2018, the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC)...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Storage Tank Enforcement: U.S. Environmental Protection Agency and Elmira, New York Tank Owner Enter into Expedited Settlement...

The United States Environmental Protection Agency (“EPA”) and S & H Food Mart, LLC (“S & H”) entered into a July 5th Expedited Settlement Agreement and Final Order (“ESA”) addressing alleged violations of the Subtitle...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Air Enforcement: Alabama Department of Environmental Management and Colbert County, Alabama Secondary Aluminum Process Plant Enter...

The Alabama Department of Environmental Management (“ADEM”) and Constellium Muscle Shoals, LLC (“CMS”) entered into a March 16th Consent Order (“CO”) addressing violations of an air permit. The CO describes CMS as a...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Air Enforcement: Arkansas Department of Environmental Quality and Nevada County, Arkansas Rubber Roofing Manufacturing Facility...

The Arkansas Department of Environmental Quality (“ADEQ”) and Firestone Building Products Company, LLC (“Firestone”) entered into a March 16th Consent Administrative Order (“CAO”) addressing alleged violations of an air...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Air Enforcement: Tennessee Air Pollution Control Board Technical Secretary's Order/Assessment of Civil Penalty

The Technical Secretary of the Tennessee Air Pollution Control Board (“Board”) issued a February 24th Technical Secretary’s Order and Assessment of Civil Penalty (“Order”) addressing an alleged violation by BlockWorks, LLC...more

Fisher Phillips

Your Comprehensive Guide to 2018 Proposed California Legislation

Fisher Phillips on

February 16 was the deadline to introduce new bills in the California Legislature. By that date, nearly 2,200 bills were introduced. While that may seem like a staggering amount of legislative proposals (especially for a...more

Akin Gump Strauss Hauer & Feld LLP

FinCEN Enforcement Action Highlights AML Compliance Program Failures and Conflicts of Interest for High-Risk MSB Customers

On February 27, 2017, FinCEN announced a $7 million civil monetary penalty against Merchants for willful violations of the BSA. Additionally, the Office of the Comptroller of the Currency (OCC), Merchants’ federal functional...more

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