Skip to Primary Navigation

Skip to main content

FINRA fines Benjamin Edwards $750k for ecomms recordkeeping failures

Image of a mobile phone showing some messaging apps.
Photo: Anna Barclay/Getty Images
Julie DiMauro profile image

Julie DiMauro

3 min read

FINRA noted the case involved “at least 3,560 text messages” about firm business, including sensitive personal information and investment advice.

Failure to supervise employee text messages has led to a censure and $750,000 fine for a St Louis-based advisory firm.

Benjamin F Edwards & Co (a dually-registered broker-dealer/investment advisory firm) agreed to the penalty, according to a recent Financial Industry Regulatory Authority (FINRA) settlement, after the supervision failure that occurred between

, , , , , , , , , , , ,

Get full access, free for a month

This is a Premium article. Start your 28-day free trial to continue reading and access all content on GRIP – no payment details required.

Start free trial Sign in

What’s included:

  • Every new article, plus our 5,000+ archive
  • Daily regulatory insight and guidance
  • Exclusive interviews and in-depth analysis
  • Coverage of industry-leading events and conferences
  • All podcasts and videos, featuring industry experts
  • The full set of Rules Navigator tools
  • An ad-free experience