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The U.S. Commodity Futures Trading Commission (CFTC) and the U.S. Securities and Exchange Commission (SEC) have imposed significant fines on various financial institutions for recordkeeping and supervision failures. The Canadian Imperial Bank of Commerce (CIBC) has been fined $30 million by the CFTC for similar violations and is paying $42 million to settle with U.S. regulators. Meanwhile, the SEC has fined 11 broker-dealers and investment advisers more than $88 million for failing to keep proper records of electronic communications. In total, U.S. regulators have levied more than $118 million in penalties against several financial firms for these violations, which are part of the ongoing fallout from the so-called WhatsApp investigations.






