Defendant Name:
Regions Securities LLC
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Regions Financial Corporation
SIC Code:
6022
CUSIP:
7591EP10
Document Reference:
34-101140
Document Details
Legal Case Name
In the Matter of Regions Securities 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, Making Findings, and Imposing Remedial Sanction and a Cease-and-Desist Order
Document Date
24-Sep-2024
Document Format
Administrative Proceeding
Allegation Type
Broker Dealer
Document Summary
On September 24, 2024, the SEC instituted settled administrative and cease-and-desist proceedings against Regions Securities LLC, stating: "These proceedings arise out of Regions’ identification—and self-report—of widespread failures of certain Regions personnel, including at senior levels, to adhere to certain of these essential requirements and Regions’ own policies and procedures. Using their personal devices, these personnel communicated both internally and externally by 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
Self Reporting to SEC
Monetary Penalties:
Civil Penalty
Individual:
$750,000.00
Shared:
