Morgan Stanley has imposed financial penalties on employees who used messaging platforms such as WhatsApp for company business, according to two sources familiar with the situation.
A file photo showing the logo of Morgan Stanley is seen in New York January 9, 2013. REUTERS/Shannon Stapleton/File Photohas imposed financial penalties on employees who used messaging platforms such as WhatsApp for company business, according to two sources familiar with the situation.
The penalties ranged from several thousand dollars for some staff to more than $1 million for others. The amounts were determined by factors such as the number of messages sent, seniority and whether the employees had already received warnings, according to one source familiar with the matter.agreed to pay
$200 million to the U.S. Securities and Exchange Commission in 2021 to resolve probes into employee communications on messaging platforms that had not been approved by the company. Wall Street's self-regulatory body — the Financial Industry Regulatory Authority — requires broker-dealers to keep records of all business-related communications. The SECIn September, the
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