Defendant Name:
BMO Capital Markets Corporation
Defendant Type:
Subsidiary of Public Company
Document Reference:
2023-149_3-21556
Document Details
Legal Case Name
In the Matter of BMO Capital Markets Corp.
Document Name
SEC Charges 11 Wall Street Firms with Widespread Recordkeeping Failures
Document Date
08-Aug-2023
Document Format
Administrative Proceeding
Allegation Type
Broker Dealer
Document Summary
On August 8, 2023, the SEC "announced charges against10 firms in their capacity as broker-dealers and one dually registered broker-dealer and investment adviser for widespread and longstanding failures by the firms and their employees to maintain and preserve electronic communications. The firms admitted the facts set forth in their respective SEC orders. They acknowledged that their conduct violated recordkeeping provisions of the federal securities laws, agreed to pay combined penalties of$289 million as outlined below, and have begun implementing improvements to their compliance policies and procedures to address these violations."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Compliance Related Independent Consultant
Monetary Penalties:
Civil Penalty
Individual:
$25,000,000.00
Shared:
