Posted on Dec 19, 2019 2021 at 14:30Updated 20 Dec. 2021 at 17:01
Very practical communication tools in times of pandemic … but not to the taste of American financial regulators. Bank JP Morgan agreed on Friday to pay a total of $ 200 million in fines for not being able to keep track of exchanges between its employees on their personal equipment.
In detail, the Securities and Exchange Commission (SEC) – the policeman of the markets – said in a statement that JP Morgan Securities (the brokerage subsidiary of the banking group) would pay $ 125 million after recognizing that more than one around a hundred employees exchanged professional messages using personal tools. Between the start of 2018 and November 2020, tens of thousands of messages passed through WhatsApp, SMS or personal emails. “None of these messages have been preserved, as required by law,” the SEC said in a statement.