Ken Griffin’s hedge fund has told industry peers that it plans to battle the SEC if the regulator moves against Citadel, according to people familiar with the talks. And it’s willing to take the agency to court, said the people, who asked not to be identified discussing private conversations.
The Miami-based firm would be the first to fight the SEC over any allegations of untracked communications. As a hedge fund, it would likely argue that it’s not subject to the same rules as Wall Street banks like JPMorgan Chase & Co. and Bank of America Corp., which agreed to pay more than $2.5 billion to settle US regulators’ investigations into their employees using unofficial messaging platforms for business.
Source: Ken Griffin’s Citadel Plans to Fight SEC Over WhatsApp Probe – Bloomberg
