Wall Street’s widespread use of electronic communication platforms such as WhatsApp, Signal, and iMessage prompted an SEC sweep of regulated firms’ recordkeeping and surveillance under the past administration, but the regulator is unlikely to abandon the crackdown even as other priorities shift.
In one of his final moves as acting chairman of the Securities and Exchange Commission, Mark Uyeda last week rebuffed 16 financial firms’ bid to trim record-keeping settlements inked with ex-Chair Gary Gensler. Chairman Paul Atkins, President Donald Trump’s full-time pick to lead the agency, was sworn in April 21. […]
Trump’s SEC sent a clear message to the industry by standing firm on some settlements from the Gensler-era probe, signaling that off-channel communications may be a shared priority among otherwise diametrically opposed administrations.
Source: SEC Keeps Eye on WhatsApp, Signal Usage Despite Trump Changes