Ex-Jefferies Banker's WhatsApp Boast Leads to FCA App Fine
- Christopher Niehaus fined $46,000 by regulator for breach
- Niehaus ‘boasted’ deal might help him pay off mortgage
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A former Jefferies Group LLC banker was fined 37,198 pounds ($46,000) by the U.K. Financial Conduct Authority for sharing confidential client data on WhatsApp with a personal acquaintance and friend, in the regulator’s first action related to a messaging app.
Christopher Niehaus, a managing director at Jefferies, shared private information about two clients on a number of occasions in early 2016, the FCA said in a statement Thursday. In one instance he sent his friend, who was also a Jefferies client, confidential information about a deal involving the friend’s competitor, the regulator said.