Defendant Name:
BGC Financial, L.P.
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
BGC Partners, Inc.
SIC Code:
7372
CUSIP:
05541T10
Document Reference:
34-83650
Document Details
Legal Case Name
In the Matter of BGC Financial, L.P.
Document Name
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
Document Date
17-Jul-2018
Document Format
Administrative Proceeding
Allegation Type
Broker Dealer
Document Summary
According to the SEC, "These proceedings arise out of BGC's violations of the books and records provisions of the Exchange Act. First, in June of 2014, BGC deleted audio files for the recorded lines of eight registered representatives that were responsive to requests from the Commission staff for these records. As detailed below, the deletion of these audio files occurred because BGC's audio system personnel were not made aware of the existence of the Commission staff's requests. Second, in the instances detailed below, BGC failed to maintain books and records that accurately recorded certain transactions concerning compensation, travel, entertainment, and other expenses."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Monetary Penalties:
Civil Penalty
Individual:
$1,250,000.00
Shared:
