Bloomberg Law Quotes Peter Altman on SEC’s Crackdown on Compliance Violations for Messaging Apps
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For its article, “Hedge Funds Under SEC Spotlight in Expanding WhatsApp Crackdown,” Bloomberg Law quoted Akin white collar defense & government investigations partner Peter Altman. The article discusses the Securities and Exchange Commission’s (SEC) expanded crackdown of finance firms’ use of private messaging apps.
Commenting on how the SEC faulted NYC hedge fund Senvest Management for failing to implement procedures to monitor whether its employees were following the firm’s policies Peter said, “While the settlement is styled as a record-keeping case in the SEC’s press release, the actual settlement order is ultimately principally about compliance violations and supervision breakdowns.”
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