In a statement about the settlements, SEC Enforcement Director Gurbir Grewal noted that Qatalyst skirted monetary penalties altogether by self-reporting "despite recordkeeping failures that involved communications by senior leadership." "Today's enforcement actions reflect the range of remedies that parties may face for violating the recordkeeping requirements of the federal securities laws," Grewal said. Related: SEC Charges 26 Firms for Off-Channel Communications Violations Stifel declined to comment for this story. An Invesco spokesperson said the firm "takes compliance matters incredibly seriously" and was pleased to resolve the matter. "We have already taken significant steps to further strengthen the firm's compliance processes related to record-keeping electronic communications," the Invesco spokesperson said.