CFTC Orders Piper Sandler to Pay $2 Million Fine Over Unit's Recordkeeping Practices
By Denny Jacob
The Commodity Futures Trading Commission said it ordered Piper Sandler to pay a $2 million fine to settle charges against the company's introducing broker for failing to meet recordkeeping requirements.
The CFTC said Monday its order against Piper Sandler Hedging Services will settle charges against the unit for failing on recordkeeping requirements and not diligently overseeing matters related to its business as a CFTC registrant. It added that Piper Sandler admitted to facts detailed in its order.
Piper Sandler didn't immediately respond to a request for comment.
The CFTC said it found that Piper Sandler employees, including those at senior levels, communicated using approved communication methods, records of which weren't maintained and preserved by Piper Sandler from at least 2019 to the present.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
September 23, 2024 15:21 ET (19:21 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
6 Top-Performing Large-Growth Funds
-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
4 Stocks to Buy as the Fed Cuts Interest Rates
-
Markets Brief: The Uncertain Path to Neutral Interest Rates
-
What’s Happening in the Markets This Week
-
Morningstar’s Guide to Investing in Stocks
-
Our Top Pick for Investing in US Renewable Energy
-
How to Measure a Stock’s Uncertainty
-
How to Determine Whether a Stock Is Cheap, Expensive, or Fairly Valued
-
Why a Company’s Management and Capital Allocation Matter
-
How to Determine What a Stock Is Worth
-
How to Measure a Company’s Competitive Advantage
-
How to Think Like a Stock Analyst