02.09.24
SEC Fines 16 Financial Firms in Latest WhatsApp Probe Penalties
by: Rick Green
Sixteen financial firms agreed to pay more than $81 million in civil fines after a probe by the U.S. Securities and Exchange Commission (SEC) found their employees used personal text messages for business purposes. The SEC said it “uncovered pervasive and longstanding uses of unapproved communication methods” at various levels that included supervisors and senior managers from at least 2019 or 2020. The firms also didn’t preserve most of those messages, violating securities laws.
Read the full article on Bloomberg