Big Law Firms Step in to Defend Broker-Dealers Amid SEC Recordkeeping Crackdown

In a recent SEC enforcement action targeting widespread recordkeeping failures, several Big Law firms are stepping up as defense counsel. The firms involved include esteemed names like Davis Polk, Sidley, Foley, Milbank, Wilmer, King & Spalding, and others. Together, they are representing 26 broker-dealers, corporate insiders, and additional parties impacted by the need to address deficiencies in maintaining accurate and comprehensive records. Read more about the specifics of the case and the firms’ intricate roles here.