Defendant Name:
Fifth Third Securities, Inc.
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Fifth Third Bancorp
SIC Code:
6711
CUSIP:
31677310
Document Reference:
34-98627
Document Details
Legal Case Name
In the Matter of Fifth Third Securities, Inc.
Document Name
Order Instituting Administrative 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
Document Date
29-Sep-2023
Document Format
Administrative Proceeding
Allegation Type
Broker Dealer
Document Summary
On September 29, 2023, the SEC instituted settled administrative and cease-and-desist proceedings against Fifth Third Securities, Inc., stating: "These proceedings arise out of the widespread and longstanding failure of Fifth
Third employees throughout the firm, including at senior levels, to adhere to certain of these
essential requirements and Fifth Third’s own policies. Using their personal devices, these
employees communicated both internally and externally by personal text messages (“off-channel
communications”)."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Compliance Related Independent Consultant
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Civil Penalty
Individual:
$8,000,000.00
Shared:
