Defendant Name: Regions Securities LLC

Defendant Type: Subsidiary of Public Company
Public Company Parent: Regions Financial Corporation
SIC Code: 6022
CUSIP: 7591EP10

Initial Case Details

Legal Case Name In the Matter of Regions Securities LLC
First Document Date 24-Sep-2024
Initial Filing Format Administrative Action
File Number 3-22163
Allegation Type Broker Dealer

Violations Alleged

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

Resolutions

First Resolution Date 24-Sep-2024
Headline Total Penalty and Disgorgement

See Related Documents

Related Documents:

34-101140 24-Sep-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 Sanction and a Cease-and-Desist Order
On September 24, 2024, the SEC instituted settled administrative and cease-and-desist proceedings against Regions Securities LLC, stating: "These proceedings arise out of Regions’ identification—and self-report—of widespread failures of certain Regions personnel, including at senior levels, to adhere to certain of these essential requirements and Regions’ own policies and procedures. Using their personal devices, these personnel communicated both internally and externally by text messages (“off-channel communications”)."
2024-144_3-22163 24-Sep-2024 Press Release--Administrative Proceeding
Eleven Firms to Pay More Than $88 Million Combined to Settle SEC's Charges for Widespread Recordkeeping Failures
On September 24, 2024, the SEC "announced charges against 12 firms, comprising broker-dealers, investment advisers, and one dually-registered broker-dealer and investment adviser, for widespread and longstanding failures by the firms and their personnel to maintain and preserve electronic communications in violation of recordkeeping provisions of the federal securities laws."
34-102860_3-22163 14-Apr-2025 Commission Order and Opinion
Order Denying Motions to Modify or Amend and Stay Settled Orders
The Commission stated that Respondents "signed offers of settlement, in which Respondents admitted to certain violations related to their employees' communications on personal devices." "Respondents now seek to (1) modify their Settled Orders . . . and (2) stay the effectiveness of their undertakings" in order to "'equalize' certain undertakings . . . with those contained in more recent Commission settlements." However, the Commission "den[ied] Respondents' motions."