In recent months the SEC and CFTC have charged multiple Wall Street firms with widespread recordkeeping failures, handing down staggering penalties in excess of 1.5 billion dollars. Firms—including smaller ones—should only expect that the aggressive enforcement will continue. As Sanjay Wadhwa, SEC Deputy Director of Enforcement, noted in an August 2023 release, "we know that other SEC-regulated entities have committed similar violations, and so our work to enforce industry-wide compliance continues."
Are your books and records ready to stand up to regulatory scrutiny?
