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
•
Failure to supervise under Section 15(b)(4)(E) Exchange Act
Resolutions
First Resolution Date
09-Feb-2024
Headline Total Penalty and Disgorgement
See Related Documents
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."
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."
34-102346
05-Feb-2025
Commission Order and Opinion
Order Granting Extension of Time
The Commission ordered that: "the Division shall file its response to the respondent’s motion by February 13, 2025."
34-102860_3-21852
14-Apr-2025
Commission Order and Opinion
Order Denying Motions To Modify Or Amend And Stay Settled Orders
On April 14, 2025, the SEC denied Respondents' motions to modify settled orders on off-channel communications, stating that the Respondents do not make the showing necessary to modify the Settled Orders and rely on inapposite or inapplicable Commission authority.
