On July 17, 2018, the Securities and Exchange Commission (“SEC”) announced a settlement with a New York-based broker-dealer over allegations that the broker-dealer failed to preserve records requested by the SEC and inaccurately reported certain expenses. The SEC’s order instituting proceedings alleged that the broker-dealer failed to preserve records requested by the SEC staff by deleting certain audio files, and failed to maintain accurate books and records regarding certain expenses, in willful violation of Section 17(a)(1) of the Securities Exchange Act, and Rules 17a-3 and 17a-4 thereunder. The broker-dealer agreed to pay a $1.25 million civil penalty to settle the SEC’s claims without admitting or denying wrongdoing. *See In the Matter of BGC Financial, L.P.*, Admin Proc. No. 3-18598 (July 17, 2018). https://urldefense.proofpoint.com/v2/url?u=http-3A__bit.ly_2LErECE&d=DwIFaQ&c=pZJPUDQ3SB9JplYbifm4nt2lEVG5pWx2KikqINpWlZM&r=b5NZPQUb9_r2rQ3Zd74ATT3aSs9yKyRnJLOhqJvd7fE&m=BcXBd8-98hmHypva4zYQsj9yHqXECTqU-LsCpkvSsEk&s=aNXHrAXwPrQh6AJmdARgvQnuoz8waTfZsNpCL5y56_Q&e= https://urldefense.proofpoint.com/v2/url?u=http-3A__bit.ly_2LErECE-2B&d=DwIFaQ&c=pZJPUDQ3SB9JplYbifm4nt2lEVG5pWx2KikqINpWlZM&r=b5NZPQUb9_r2rQ3Zd74ATT3aSs9yKyRnJLOhqJvd7fE&m=BcXBd8-98hmHypva4zYQsj9yHqXECTqU-LsCpkvSsEk&s=jhkNEXIxX4wUMqKyXi1oYLgKll_zDUwiu0myMqlXsjs&e= -- Peterk Dallas, Tx [log in to unmask] Save our in-boxes! https://urldefense.proofpoint.com/v2/url?u=http-3A__emailcharter.org&d=DwIFaQ&c=pZJPUDQ3SB9JplYbifm4nt2lEVG5pWx2KikqINpWlZM&r=b5NZPQUb9_r2rQ3Zd74ATT3aSs9yKyRnJLOhqJvd7fE&m=BcXBd8-98hmHypva4zYQsj9yHqXECTqU-LsCpkvSsEk&s=xy-JY5iryp3-Z4lISWZ-SdTjy-MVmzhyRmlPbE8MaGw&e= “If only there were a massive entity that I were forced to fund to tell me how I should live my life, since I’m so obviously incapable of deciding for myself.” M. Hashimoto List archives at http://lists.ufl.edu/archives/recmgmt-l.html Contact [log in to unmask] for assistance To unsubscribe from this list, click the below link. If not already present, place UNSUBSCRIBE RECMGMT-L or UNSUB RECMGMT-L in the body of the message. mailto:[log in to unmask]
