Wall Street Firms Fined $470 Million for Record-Keeping Fails
A bunch of big-name Wall Street firms are facing a hefty fine for messing up their record-keeping. The US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are slapping these firms with a collective $470 million fine. What Went Wrong? The firms admitted to using “off-channel” communication, like private emails and…
