Defendant Name: Zions Public Finance, Inc.

Defendant Type: Subsidiary of Public Company
Public Company Parent: Zions Bancorporation, National Association
SIC Code: 6021
CUSIP: 98970110

Initial Case Details

Legal Case Name In the Matter of Zions Public Finance, Inc.
First Document Date 17-Sep-2024
Initial Filing Format Administrative Action
File Number 3-22128
Allegation Type Municipal Securities & Public Pensions

Violations Alleged

Other
• Sections 17(a), 15B(c)(1) Exchange Act; Rule 15Ba1-8 Exchange Act; Rules G-8, G-9, G-44 MSRB

Resolutions

First Resolution Date 17-Sep-2024
Headline Total Penalty and Disgorgement $47,000

Related Documents:

34-101048 17-Sep-2024 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Sections 15B and 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On September 17, 2024, the SEC instituted settled administrative and cease-and-desist proceedings against Zions Public Finance, Inc., stating: "These proceedings arise out of the failure of Zions Public Finance employees throughout the firm, including at senior levels, to adhere to these recordkeeping requirements and the firm’s own policies. Using unapproved electronic communication methods, these employees communicated with regard to municipal advisory activities both internally and externally by text messages (“off-channel communications”)."
2024-132 17-Sep-2024 Press Release--Administrative Proceeding
SEC Charges 12 Municipal Advisors With Recordkeeping Violations
On September 17, 2024, the SEC "today announced charges against 12 municipal advisors for failures by the firms and their personnel to maintain and preserve certain electronic communications. The firms agreed to pay combined civil penalties of more than $1.3 million to settle the SEC’s charges."