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SEC charges 12 municipal advisers with recordkeeping violations

Illustration of a silhouette of a hand holding a smartphone, both entwined in barbed wire
Photo: Rob Dobi

Alexander Barzacanos

1 min read
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The charges relate to off-channel communications and related supervisory failures.

The SEC has charged 12 municipal advisers for failure to maintain and preserve internal and external electronic communications.

All were censured and ordered to cease and desist from violating recordkeeping laws, and have agreed to pay civil penalties amounting in total to $1.3m and ranging from $40,000 to $324,000.

That brings the total

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