Defendant Name:
Cowen and Company, LLC
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
The Toronto-Dominion Bank
SIC Code:
6021
CUSIP:
89116050
Document Reference:
34-100710
Document Details
Legal Case Name
In the Matter of Cowen and Company, LLC and Cowen Investment Management LLC
Document Name
Order Instituting Administrative and 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
14-Aug-2024
Document Format
Administrative Proceeding
Allegation Type
Broker Dealer
Document Summary
On August 14, 2024, the SEC instituted administrative and cease-and-desist proceedings against Cowen and Company, LLC and Cowen Investment Management LLC, stating: "These proceedings arise out of the widespread and longstanding failure of Respondents' personnel, including at senior levels, to adhere to certain of these essential requirements and Respondents' own policies. Using their personal devices, these personnel communicated both internally and externally by text messages, and/or other unapproved written communications platforms, such as WhatsApp ("off-channel communications")."
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:
Shared:
$16,500,000.00
Shared with: Cowen Investment Management LLC
Other Defendants in Action:
