ThinkAdvisor published an article on June 18, 2020 discussing the importance surrounding broker-dealers retention and review of electronic communications. FINRA took action against a firm’s Chief Compliance Officer (“CCO”) for failing to retain business communications and for using an outside email address to conduct business.

The following disciplinary actions were taken against both firms and individuals due to violations of FINRA rules, federal securities laws and MSRB rules. Firm Fined: Midtown Partners & Co., LLC. The Firm was fined $50,000 for failing to enforce the policies and procedures outlined in its WSPs related to the trading of securities on the Restricted List and Watch List.