Books and Records
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SEC’s Daly mulls strategy for e-delivery, recordkeeping clarity, and AI as firms automate
“What if we reimagined disclosure using large language models?”
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FINTRAC hits five real estate brokerages with C$368k in AML penalties
Five firms face administrative monetary penalties after exams found gaps in AML programs and suspicious transaction reporting.
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SEC charges six purported advisers over false Form ADV filings, books-and-records issues
The SEC said the entities claimed specific office locations, assets under management, and private funds that could not be verified.
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SEC’s off-channel comms crackdown eases, compliance professionals say
A Citywire report says that RIAs are reporting softer exams on texts and messaging apps, but compliance teams are not letting their guards down.
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SEC accuses former CFO of round-trip cash transfer scheme
SEC alleges former CFO lied to auditors and falsified records to inflate Acreage’s year-end cash balance.
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SEC still live and kicking as 12 firms fined combined $63m+ in recordkeeping failure charges
Each firm used unapproved communication methods, or off-channel communications, to send and receive messages that were required to be maintained under the securities laws, the SEC said.
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SEC modernizes submission of some forms and filings
The rule requires broker-dealers, securities-based swap dealers, exchanges, clearing agencies, and other SROs to submit forms in certain electronic formats.
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SEC settles recordkeeping charges with ICBC Financial Services after cyber event
The SEC said the attack affected the business’s ability to update its books and records and lose connectivity to its clearing firms and clearing agents.