Defendant Name:
U.S. Bancorp Investments, Inc.
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
U.S. Bancorp
SIC Code:
6021
CUSIP:
90297330
Document Reference:
34-99505
Document Details
Legal Case Name
In the Matter of U.S. Bancorp Investments, Inc.
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
09-Feb-2024
Document Format
Administrative Proceeding
Allegation Type
Broker Dealer
Document Summary
On February 9, 2024, the SEC instituted administrative and cease-and-desist proceedings against U.S. Bancorp Investments, Inc., stating: "From at least January 2020, USBI employees sent and received off-channel
communications that related to the business of the broker-dealer operated by USBI. Respondent
did not maintain or preserve the substantial majority of these written communications.
Respondent’s failure was firm-wide and involved employees at various levels of authority. As a
result, USBI violated Section 17(a) of the Exchange Act and Rule 17a-4(b)(4) thereunder."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Compliance Related Independent Consultant
Other Compliance Related Undertaking
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Civil Penalty
Individual:
$8,000,000.00
Shared:
