03:30 PM EDT, 08/06/2024 (MT Newswires) -- Piper Sandler ( PIPR ) said Tuesday it has agreed to pay $16 million to US regulators to resolve record-keeping investigations.

The firm will pay $14 million to the US Securities and Exchange Commission and $2 million to the Commodity Futures Trading Commission as settlement costs for unapproved business communications on messaging platforms, the company said in an SEC filing.

As of June 30, it had allocated $16 million for the investigations, Piper Sandler ( PIPR ) said.

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