Defendant Name:
Hilltop Securities Inc.
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Hilltop Holdings, Inc.
SIC Code:
6022
CUSIP:
43274810
Initial Case Details
Legal Case Name
In the Matter of Hilltop Securities Inc.
First Document Date
14-Aug-2024
Initial Filing Format
Administrative Action
File Number
3-21993
Allegation Type
Broker Dealer
Violations Alleged
•
Failure to supervise under Section 203(e)(6) Advisers Act
Resolutions
First Resolution Date
14-Aug-2024
Headline Total Penalty and Disgorgement
See Related Documents
Related Documents:
34-100697
14-Aug-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 and Sections 203(e) and 203(k) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-And-Desist Order
On August 14, 2024, the SEC instituted administrative and cease-and-desist proceedings against Hilltop Securities Inc., stating: "These proceedings arise out of HTS's identification--and self-report--of
widespread failures of certain HTS personnel, including at senior levels, to adhere to certain of
these essential requirements and Respondent's own policies. Using their personal devices, these
personnel communicated both internally and externally by text messages, which were not an
approved written communications platform ("off-channel communications")."
Twenty-Six Firms to Pay More Than $390 Million Combined to Settle SEC's Charges for Widespread Recordkeeping Failures
On August 14, 2024, the SEC "announced charges against 26 broker-dealers, investment advisers, and dually-registered broker-dealers and investment advisers for widespread and longstanding failures by the firms and their personnel to maintain and preserve electronic communications."
34-102353
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_3-21993
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.
