SEC Charges 10 Firms
Posted on 10/02/2023
Gurbir S. Grewal who leads the SEC’s enforcement is back in the limelight after the SEC announced charges against 10 firms for records violations. They allegedly had “pervasive and longstanding off-channel communications.” Parties that the SEC intended enforcement actions against include Interactive Brokers, Robert W. Baird & Co., William Blair & Co. and William Blair Investment Management, Fifth Third Securities, and TIAA’s Nuveen. Also named were Perella Weinberg Partners, Tudor, Pickering, Holt & Co. Securities and Perella Weinberg Partners Capital Management.
Grewal said: “There are real benefits to self-reporting, remediating and cooperating” with the SEC. Affected firms will pay US$ 79 million in fees. They will also have to hire third-party monitors.
