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CFTC fines Piper Sandler for recordkeeping violations; commissioners dissent

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Photo: Nirat/Getty Images

Alexander Barzacanos

2 min read
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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

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