On September 29, 2023, the SEC instituted settled administrative and cease-and-desist proceedings against Perella Weinberg Partners LP, Tudor, Pickering, Holt & Co. Securities LLC, and Parella Weinberg Partners Capital Management, stating: "These proceedings arise out of Perella's identification--and self-report--of widespread and longstanding failures of certain Perella employees throughout the firms, including at senior levels, to adhere to certain of these essential requirements and Perella's own policies. Using their personal devices, these employees communicated both internally and externally by personal text messages or WhatsApp ("off-channel communications")."

On September 29, 2023, the SEC "announced charges against five broker-dealers, three dually registered broker-dealers and investment advisers, and two affiliated investment advisers for widespread and longstanding failures to maintain and preserve electronic communications. The firms admitted the facts set forth in their respective SEC orders and acknowledged that their conduct violated recordkeeping provisions of the federal securities laws. The firms agreed to pay combined penalties of $79 million as outlined below and have begun implementing improvements to their compliance policies and procedures to address these violations."

On March 11, 2025, respondents Perella Weinberg Partners LP (including as successor to Tudor, Pickering, Holt & Co. Securities LLC) and Perella Weinberg Partners Capital Management LP filed a motion to amend and stay certain undertakings contained in a settled order instituting administrative and cease-and-desist proceedings, making findings, and imposing remedial sanctions and a cease-and-desist order against them. To date, the Division of Enforcement has not filed a response to this motion. The SEC ordered that the Division file any response to the respondents' motion by April 10, 2025. The respondents can file any reply by April 15, 2025.

On March 11, 2025, the respondents (Perella Weinberg Partners LP; Tudor, Pickering, Holt & Co. Securities LLC; and Perella Weinberg Partners Capital Management LP), filed a motion to amend and stay certain ordered undertakings. On April 10, 2025, the Division of Enforcement filed an opposition to the respondents' motion. On that same day, the respondents filed an unopposed motion to extend the deadline for filing a reply brief in support of their motions from April 15 to April 22, 2025. Under the circumstances, it appeared appropriate to grant the respondents' request for good cause shown, and the SEC allowed it.