SEC collects Wall Street’s private messages as WhatsApp probe escalates

Sep 28th '23

According to sources, the U.S. Securities and Exchange Commission has collected thousands of staff messages from more than a dozen major investment companies, taking its probe into ephemeral messaging to the next level – SEC WhatsApp probe (Reuters).


The thoroughness of the investigation has already been well documented, but the SEC isn’t taking its foot off the gas. Companies under investigation were previously asked to review staff messages and report back on their findings. The current strategy reflects a significant escalation, with any potential misconduct in full view of the regulator.


Chair Gary Gensler has defended the communications scrutiny, saying record-keeping rules are critical in helping the SEC guard against wrongdoing.


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