Tag: Gurbir S. Grewal

The wave of recordkeeping enforcement actions in the finance sector has now expanded to brokers, investment advisers, and credit rating agencies. Leading this charge are the U.S. Securities and Exchange Commission (SEC) and the Commodity Trading Futures Commission (CFTC).

In the past few months, both the SEC and CFTC have targeted numerous Wall Street firms for extensive recordkeeping oversights. This resulted in eye-watering penalties surpassing $1.5bn. Both major and minor firms should anticipate that this assertive enforcement will remain unrelenting.