Earlier this Month the SEC announced fines of over $1.1 Billion levied against 16 Financial Institutions for their use of messaging apps ( Apps used…

← Back to Blog

Earlier this Month the SEC announced fines of over $1.1 Billion levied against 16 Financial Institutions for their use of messaging apps (https://lnkd.in/esZZR-xX), Apps used by staff to discuss trades and deals in breach of market regulation.

The SEC is continuing its investigations on ‘off-channel’ business communications. Asking other investment funds and advisors to confirm their use, in what is being called an ‘investigative sweep’.

This furthers a far reaching investigation that one would assume is likely to lead to violations being identified, given the number of banks charged previously and volume of investment funds and advisors.

Ted Dziekanowski

#controls #financialcontrol #securitiesandexchangecommission #regulation #theaugustagroup

View Original Post
https://www.linkedin.com/feed/update/urn%3Ali%3Ashare%3A6985854543720804352