CFTC fines Piper Sandler for recordkeeping violations; commissioners dissent

The dissenters questioned whether the definition of “business records” has been stretched beyond usefulness.

In a 3-2 vote, the CFTC has fined introducing broker (IB) Piper Sandler Hedging Services LLC $2m for recordkeeping violations.

The CFTC’s charges come in the wake of a parallel SEC action that netted Piper Sandler for recordkeeping violations along with 26 other firms. The SEC’s order saw the

Free Trial

Register for free to keep reading.

To continue reading this article and unlock full access to GRIP, register now. You’ll enjoy free access to all content until our subscription service launches in early 2026.

  • Unlimited access to industry insights
  • Stay on top of key rules and regulatory changes with our Rules Navigator
  • Ad-free experience with no distractions
  • Regular podcasts from trusted external experts
  • Fresh compliance and regulatory content every day
Register for free Already a member? Sign in