Compliance & Ethics

The Securities and Exchange Commission (SEC) has brought charges against GTT Communications, Inc. for its failure to disclose material information concerning unsupported adjustments made in several Commission filings. These adjustments significantly increased GTT's reported operating income by at least 15 percent during three quarters spanning from 2019 through 2020. However, despite the violations, the SEC's order acknowledges GTT's prompt self-reporting, active remedial measures, and substantial cooperation during the investigation, leading to the omission of civil penalties.

The Securities and Exchange Commission (SEC) has taken action against registered investment adviser DWS Investment Management Americas Inc. (DIMA or DWS), a subsidiary of Deutsche Bank AG, for multiple violations related to Anti-Money Laundering (AML) programs and misrepresentations regarding Environmental, Social, and Governance (ESG) investments. As part of the settlement, DWS will pay a total of $25 million in penalties.

The Securities and Exchange Commission (SEC) has announced that American Infrastructure Funds LLC (AIM), a registered investment adviser to private funds based in Foster City, California, has agreed to pay over $1.6 million to settle charges related to breaches of its fiduciary duties.

Goldman Sachs & Co. LLC has reached a settlement with the Securities and Exchange Commission (SEC) over charges of inadequate provision of securities trading information, commonly referred to as blue sheet data. The settlement involves a $6 million penalty to resolve the SEC's charges.

The Commodity Futures Trading Commission (CFTC) has taken enforcement action against StoneX Markets LLC (StoneX), a registered swap dealer, for violations related to the agency's Business Conduct Standards governing swap dealers. The CFTC's order, which combines filing and settlement, outlines the charges against StoneX and imposes a $650,000 civil monetary penalty.

The Single Resolution Board (SRB), a European Union regulator, has indicated that while most leading euro zone banks have met the January 2024 target for issuing special debt to bolster capital during a crisis, some institutions need to enhance their preparedness for rapid crisis response.

The Securities and Exchange Commission (SEC) has unveiled its new Diversity, Equity, Inclusion, and Accessibility (DEIA) Strategic Plan for fiscal years 2023-2026. This strategic plan represents a significant step forward in the SEC's commitment to fostering diversity, equity, inclusion, and accessibility within the organization and across the broader financial industry.