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Michael Osnato Quoted in PELR on SEC and CFTC Off-Channel Communication Enforcement Efforts
11.21.24
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Government and Internal Investigations Partner Michael Osnato was quoted in a Private Equity Law Report article that discussed the SEC and CFTC’s enforcement efforts targeting off-channel communications. Michael noted, “The overall takeaway from the ongoing enforcement sweep – including the dissents from the SEC and CFTC Commissioners – is that we’ve hit the point of saturation.” He further indicated that the overwhelming majority of firms have now devoted significant resources to upgrading technology, developing policies, training personnel and implementing other efforts to comply with their electronic communication recordkeeping obligations, but additional guidance may be needed to clarify the scope of recordkeeping rules.
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