The US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have announced settlements with 26 financial firms, totaling nearly $474 million, for failing to maintain and preserve electronic communications. The settlements come after a probe revealed widespread recordkeeping failures among broker-dealers, investment advisers, and other registered firms. Notable penalties include $50 million each for Ameriprise Financial Services, Edward D. Jones & Co., LPL Financial, and Raymond James, with RBC paying $45 million. The fines were imposed as part of an effort to enforce compliance with federal recordkeeping laws.