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Records Management Program <[log in to unmask]>
Thu, 26 Jul 2018 21:13:35 -0500
text/plain (30 lines)
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).

Dallas, Tx
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