SEC WhatsApp Probe Digs Deeper Into Asset Managers’ Personnel
- Watchdog sent letter to firms asking who’s who in compliance
- Sweeping investigation moves from banks to investment firms
The US Securities and Exchange Commission in Washington, DC.
Photographer: Zach Gibson/BloombergThis article is for subscribers only.
The broad US probe into the use of outside messaging services like WhatsApp at major banks is now sweeping in recordkeepers at big investment firms.
The Securities and Exchange Commission has asked money managers for details on who at their firms oversees retention of electronic communications, according to the request reviewed by Bloomberg News. The query is part of a letter that the regulator sent recently to some of the largest players in the industry seeking information on policies and key staff whose texts and emails are supposed to be archived.