Defendant Name:
Santander US Capital Markets LLC
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Banco Santander, S.A.
SIC Code:
6021
CUSIP:
05964H10
Document Reference:
34-102171
Document Details
Legal Case Name
In the Matter of Santander US Capital Markets 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 Sanctions and a Cease-and-Desist Order
Document Date
13-Jan-2025
Document Format
Administrative Proceeding
Allegation Type
Broker Dealer
Document Summary
On January 13, 2025, the SEC instituted settled administrative and cease-and-desist proceedings against Santander US Capital Markets LLC, stating: "These proceedings arise out of the failure of Respondent’s personnel, including at
senior levels, to adhere to certain of these essential requirements and Respondent’s own policies
and procedures. Using their personal devices, these employees 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
Other Compliance Related Undertaking
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Civil Penalty
Individual:
$4,000,000.00
Shared:
