Blackstone and BlackRock Are Being Investigated in SEC’s Texting Sweep
- The firms are among several facing questions about app usage
- Both money managers said they are cooperating with the SEC
The WhatsApp logo on a smartphone.
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
Blackstone Inc. and BlackRock Inc. are among the money managers facing scrutiny in a US regulatory crackdown on Wall Streeters’ once-prolific use of unauthorized messaging platforms.
Blackstone was contacted by the Securities and Exchange Commission in October for information on retention of electronic business communications and text messages, the firm said in a filing on Friday.