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The Securities and Exchange Commission today announced charges against 26 broker-dealers, investment advisers, and dually-registered broker-dealers and investment advisers for widespread and longstanding failures by the firms and their personnel to maintain and preserve electronic communications.

The firms admitted the facts set forth in their respective SEC orders, acknowledged that their conduct violated recordkeeping provisions of the federal securities laws, agreed to pay combined civil penalties of $392.75 million, as outlined below, and have begun implementing improvements to their compliance policies and procedures to address these violations. Three of the firms, as noted below, self-reported their violations and, as a result, will pay significantly lower civil penalties than they would have otherwise.

• Ameriprise Financial Services, LLC agreed to pay a $50 million penalty
• Edward D. Jones & Co., L.P. agreed to pay a $50 million penalty
• LPL Financial LLC agreed to pay a $50 million penalty
• Raymond James & Associates, Inc. agreed to pay a $50 million penalty
• RBC Capital Markets, LLC agreed to pay a $45 million penalty
• BNY Mellon Securities Corporation, together with Pershing LLC, agreed to pay a $40 million penalty
• TD Securities (USA) LLC, together with TD Private Client Wealth LLC and Epoch Investment Partners, Inc., agreed to pay a $30 million penalty
• Osaic Services, Inc., together with Osaic Wealth,......................

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