No time like present to tackle thorny problem of off-channel comms

For years, executives, managers, and employees at broker-dealers, investment advisory firms, and swap dealers used unauthorized communication channels to conduct company business.

They texted clients and colleagues from their personal devices. They exchanged emails from personal accounts. And, perhaps most systematically, they sent thousands of business-related messages that were not recorded by their employer on apps like WhatsApp, WeChat, Signal, and Slack.

So, what’s the big deal? Why does using unauthorized channels matter?