Prior auditor here…
I reviewed the pdf attached. Can't really tell much of what the financial transaction was about or what information was included in the email, but basically this order fines Loop only $25,000 for this infraction.
A personal email account was used by one of their female registered agents regarding a financial transaction between Loop associates and one of their clients (no names are mentioned).
Apparantly this was discovered when staff on the SEC requested information re: a certain financial transaction and because this email(s) was not on their server, they could not provide that information and did not provide that information. Due to SEC staff digging further they found out about these emails sent from the employee's personal email address.
It's important since the SEC investigation/audit was hampered, but also because they were not following basic data retention guidelines pursuent to law. The cease&desist order means they can no longer continue to use personal email addresses in their communications. That's all I got from this.