Emojis are used to make text messages more vivid and personal, but Wall Street regulators say business-related messages with emojis may pose a problem for financial institutions if the correspondence isn’t captured and monitored properly.
Texts tend to be shorter than emails and include more acronyms, so maintaining a surveillance system that interprets messages and identifies red flags could be more complicated, said Michael Solomon, who leads Finra’s national examination program, at a panel at the Finra Annual Conference in May. NEWSLETTER SIGN-UP WSJ | Risk and Compliance Journal Our Morning Risk Report features insights and news on governance, risk and compliance. Preview Subscribe
“Emojis are something that didn’t exist in emails before,” said Solomon. “You can foresee situations in text messaging where an emoji might be a 4530 customer complaint.”
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