BGC Financial Pays $1.25M To End SEC Record-Keeping Fight

By Dean Seal (July 17, 2018, 9:19 PM EDT) -- The U.S. Securities and Exchange Commission said in an order Tuesday that New York-based BGC Financial LP had agreed to pay $1.25 million to settle the agency's claims that it deleted audio files sought by the SEC and failed to maintain accurate records for compensation, travel and entertainment expenses.

The SEC's order claims that the agency staff issued two requests in March 2014 for the recorded telephone conversations of eight BGC representatives, but that some were the subject of a hold for litigation unrelated to the SEC's inquiry. When the litigation hold was lifted two months later, some of the responsive...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Attached Documents

Related Sections

Law Firms

Government Agencies

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!