Defendant Name: BGC Financial, L.P.

Defendant Type: Subsidiary of Public Company
Public Company Parent: BGC Partners, Inc.
SIC Code: 7372
CUSIP: 05541T10

Initial Case Details

Legal Case Name In the Matter of BGC Financial, L.P.
First Document Date 17-Jul-2018
Initial Filing Format Administrative Action
File Number 3-18598
Allegation Type Broker Dealer

Violations Alleged

Other
• Section 17(a)(1) Exchange Act; Rules 17a-3, 17a-4(j) Exchange Act

Resolutions

First Resolution Date 17-Jul-2018

Related Documents:

34-83650 17-Jul-2018 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Sections 15(b) and 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
According to the SEC, "These proceedings arise out of BGC's violations of the books and records provisions of the Exchange Act. First, in June of 2014, BGC deleted audio files for the recorded lines of eight registered representatives that were responsive to requests from the Commission staff for these records. As detailed below, the deletion of these audio files occurred because BGC's audio system personnel were not made aware of the existence of the Commission staff's requests. Second, in the instances detailed below, BGC failed to maintain books and records that accurately recorded certain transactions concerning compensation, travel, entertainment, and other expenses."
2018-134 17-Jul-2018 Press Release--Administrative Proceeding
SEC Charges BGC Financial for Failure to Preserve Documents and Maintain Accurate Books and Records
"The Securities and Exchange Commission today announced that New York- based broker-dealer BGC Financial has agreed to pay a $1.25 million penalty to settle charges that it failed to preserve audio files sought by the SEC and inaccurately recorded travel, entertainment, and other expenses."