The Securities and Exchange Commission (SEC) has imposed significant fines on financial firms for failing to maintain records of their employees’ electronic communications, particularly those conducted via WhatsApp. The latest enforcement actions have resulted in fines totaling $393 million, with 26 financial institutions agreeing to pay penalties. Notable firms include Ameriprise Financial Inc., Edward D. Jones & Co., LPL Financial Holdings Inc., and Raymond James Financial Inc., each paying $50 million. Additionally, Royal Bank of Canada will pay $45 million, while other entities like Toronto-Dominion Bank, Truist Financial Corp., and Bank of New York Mellon Corp. have also agreed to fines. These penalties are part of a broader regulatory crackdown aimed at ensuring compliance with recordkeeping requirements to safeguard investors and maintain market integrity.