On May 11, 2023, the SEC charged HSBC Securities (USA) Inc. and Scotia Capital (USA) Inc. for their employees’ longstanding and widespread failures to preserve and maintain electronic communications. To settle the charges, HSBC and Scotia admitted that their conduct violated recordkeeping provisions of the federal securities laws and agreed … Continue reading HSBC Securities and Scotia Capital Fined $15M and $7.5M Respectively by SEC for Recordkeeping Failures