The U.S. Securities and Exchange Commission (SEC) continues to focus on recordkeeping requirements.
On August 8, 2023, the SEC announced charges against 11 firms for failing to maintain or preserve the communications made by their respective employees on personal devices through various messaging platforms (in violation of federal recordkeeping requirements).
According to the press release, each of the firms admitted that the employees communicated about the business of their respective employer through messaging platforms such as:
• iMessage;
• WhatsApp; and
• Signal
Click here to view the Press Release: https://lnkd.in/gKqpMUR7
These charges are part of a continued focus on compliance with recordkeeping requirements. As stated in the press release:
“Compliance with the books and records requirements of the federal securities laws is essential to investor protection and well-functioning markets. To date, the Commission has brought 30 enforcement actions and ordered over $1.5 billion in penalties to drive this foundational message home.”
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Let us show you how outsourced compliance services can help satisfy your regulatory burdens while also allowing you to focus on your business.
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