The SEC announced charges against 11 more Wall Street firms on August 8, 2023, for failing to maintain and preserve electronic communications. The firms acknowledged that their conduct violated recordkeeping provisions of federal securities laws, agreed to pay combined penalties of $289 million, and have begun improving their compliance policies and procedures to address control weaknesses. Included in the charges are Wells Fargo, BNP Paribas Securities Corp., SG Americas Securities, LLC, BMO Capital Markets Corp., Mizuho Securities USA LLC, Houlihan Lokey Capital, Inc., Moelis & Company LLC, Wedbush Securities Inc., and SMBC Nikko Securities America, Inc. The Anti-Corruption Report consulted with Miller & Chevalier attorney Sandra Hanna, for insights about the actions and what we can expect to come. See “Compliance Challenges in Records Management” (Aug. 16, 2023).