The Securities and Exchange Commission and the Commodities Futures Trading Commission recently fined 11 financial firms a total of $549 million for practices related to app-based messaging use, including by senior executives.
The SEC cited “widespread and longstanding failures by the firms and their employees to maintain and preserve electronic communications.” The CFTC said each of four companies it investigated “failed to stop its employees, including those at senior levels, from communicating both internally and externally using unapproved communication methods, including messages sent via personal text or WhatsApp.”
How can you make sure your colleagues communicate effectively while meeting regulatory and legal obligations? Consider the five tips below.
Source: Five Compliance Tips for Companies Using App-Based Messaging
