Defendant Name: Oppenheimer & Co. Inc.

Defendant Type: Subsidiary of Public Company
Public Company Parent: Oppenheimer Holdings, Inc
SIC Code: 6211
CUSIP: 68379710

Initial Case Details

Legal Case Name In the Matter of Oppenheimer & Co. Inc.
First Document Date 09-Feb-2024
Initial Filing Format Administrative Action
File Number 3-21852
Allegation Type Broker Dealer

Violations Alleged

Other
• Failure to supervise under Section 15(b)(4)(E) Exchange Act

Resolutions

First Resolution Date 09-Feb-2024
Headline Total Penalty and Disgorgement $12,000,000

Related Documents:

34-99503 09-Feb-2024 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
On February 9, 2024, the SEC instituted administrative and cease-and-desist proceedings against Oppenheimer & Co. Inc., stating: "From at least January 2020, Oppenheimer employees sent and received offchannel communications that related to the business of the broker-dealer. Respondent did not maintain or preserve the substantial majority of these written communications. Respondent’s failure was firm-wide and involved employees at all levels of authority. As a result, Oppenheimer violated Section 17(a) of the Exchange Act and Rule 17a-4(b)(4) thereunder."
2024-18_3-21852 09-Feb-2024 Press Release--Administrative Proceeding
Sixteen Firms to Pay More Than $81 Million Combined to Settle Charges for Widespread Recordkeeping Failures
On February 9, 2024, the SEC "announced charges against five broker-dealers, seven dually registered broker-dealers and investment advisers, and four affiliated investment advisers for widespread and longstanding failures by the firms and their employees to maintain and preserve electronic communications."