Employees high and low on Wall St. used unapproved messaging apps for business. Now their employers are being fined a collective $555 million for violating record-keeping rules.
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.
https://www.wsj.com/articles/wells-fargo-bnp-paribas-others-to-pay-555-million-in-fines-for-use-of-messaging-apps-e91c8a15Several Wall Street firms admitted employees used WhatsApp and iMessage for business communications in violation of record-keeping rules, as U.S. market regulators continue an industrywide sweepWells Fargo agreed to pay about $125 million in fines to the SEC and $75 million to the CFTC.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wells Fargo upgrades DraftKings, says growth momentum will continueAnalyst Daniel Politzer upgraded shares to overweight from equal weight.
Read more »
Wells Fargo hires Credit Suisse veteran as head of financial sponsorsU.S. bank Wells Fargo said on Monday Malcolm Price has joined its corporate and investment bank (CIB) as the head of financial sponsors, after 35 years at Credit Suisse.
Read more »
Wells Fargo to pay largest fine in SEC recordkeeping enforcement actionWells Fargo & Co. will pay $125 million out of a total of $289 million in fines by the Securities and Exchange Commission against 10 firms “for widespread and longstanding failures by the firms and their employees to maintain and preserve electronic communications,” the SEC said
Read more »
Regulators fine Wall Street firms $549 million for using WhatsApp and other channels to discuss businessWells Fargo and other Wall Street firms have been fined a total of $549 million for using messaging platforms like WhatsApp and Signal for 'off-channel' communications, violating federal recordkeeping requirements. The Securities and Exchange Commission found widespread and long-standing use of these platforms at Wells Fargo, BNP Paribas, SG Americas, BMO Capital Markets, Mizuho Securities, Houlihan Lokey, Moelis, Wedbush, and SMBC Nikko Securities America.
Read more »
San Antonio's Camp Hot Wells expands hours until midnightSan Antonio's Camp Hot Wells, a sulphur spring-heated spot that offers clawfoot and cedar plank tubs for whole-body soaking, has expanded its hours until midnight. Visitors can now enjoy the relaxing experience until late at night.
Read more »
DraftKings’ stock has nearly tripled this year — and it just won a new fanWells Fargo analysts "hate" upgrading a stock that's risen about 180% in 2023, but they don't want to miss out on a possible further DraftKings...
Read more »