Morgan Stanley has hit financial penalties on employees using messaging platforms such as WhatsApp and others for official business, the Financial Times reported on Thursday.
The penalties were between a few thousand dollars and over a $1 million per employee, and were determined based on factors such as the number of messages sent, seniority and whether they had already received warnings, among others, the newspaper reported citing people briefed on the matter.The move comes after the lender had$200 million to the U.S.
The SEC and Wall Street's self-regulatory body — Financial Industry Regulatory Authority — require broker-dealers to keep records of all business-related communications and the SECIn 2020, Morgan Stanley hadReporting by Anirudh Saligrama in Bengaluru; Editing by Krishna Chandra Eluri
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