SEC Charges 10 Firms With Widespread Recordkeeping Failures; Fifth Third Securities Inc. Agreed To Pay An $8M Penalty
Portfolio Pulse from Benzinga Newsdesk
The Securities and Exchange Commission (SEC) has charged 10 firms, including Fifth Third Securities Inc., with widespread recordkeeping failures. Fifth Third Securities has agreed to pay an $8 million penalty.
September 29, 2023 | 1:21 pm
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Fifth Third Securities, a subsidiary of Fifth Third Bancorp (FITB), has been charged with recordkeeping failures by the SEC and agreed to pay an $8 million penalty.
The SEC charges and the subsequent penalty could negatively impact the reputation of Fifth Third Securities and its parent company, Fifth Third Bancorp. This could potentially lead to a decrease in the company's stock price in the short term.
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