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.-
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