The US Securities and Exchange Commission (SEC) has fined 10 firms in their capacity as broker-dealers and one dually registered broker-dealer and investment adviser for widespread and longstanding failures by the firms and their employees to maintain and preserve electronic communications - leading to fines totally $289m. Those hit include: Wells Fargo Securities, LLC together with Wells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLC agreed to pay a $125m penalty; BNP Paribas Securities Corp. and SG Americas Securities, LLC have each agreed to pay pe...
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