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More SEC charges over ‘widespread’ recordkeeping failures

Image of person using a mobile phone's apps.
Photo: Chung Sung-Jun/Getty Images

US regulators fined eight companies a combined $111m in the latest actions.

On Friday, the SEC announced charges against five broker-dealers, three dually registered broker-dealers and investment advisers, and two affiliated investment advisers for widespread and longstanding failures to maintain and preserve electronic communications.

The firms admitted the facts set outh in their respective SEC orders and acknowledged that their conduct violated

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