- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2022-11-10T18:25:00
Three private equity firms disclosed they are under investigation by the Securities and Exchange Commission (SEC) for having allowed employees to use unauthorized communication channels like WhatsApp and WeChat to conduct company business.
Apollo Global Management, The Carlyle Group, and KKR & Co. disclosed in quarterly filings the SEC is also investigating them for not properly recording and retaining the work-related communications of their employees.
Apollo disclosed in its quarterly filing Tuesday it received a request for information and documents “in connection with an investigation concerning compliance with record retention requirements relating to business communications sent or received via electronic messaging channels.”
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French bank Société Générale is the latest financial institution to be swept up in U.S. regulators’ crackdown on the use of personal cellphones and private apps by employees to conduct official business.
Morgan Stanley fined its employees up to $1 million for using unauthorized communication channels in violation of recordkeeping rules, according to multiple reports.
Eleven banks, investment firms, and their affiliates will pay a total of more than $1.8 billion in fines for “widespread and longstanding failures” in monitoring, maintaining, and preserving electronic communications by employees.
Three months after a U.S. district judge declared Google to be running a monopoly, the Department of Justice recommended the tech giant be forced to sell off its popular Chrome browser as part of an effort to resolve antitrust concerns and reshape the power of tech’s biggest companies.
A bank examiner and senior manager at the Federal Reserve Bank of Richmond pled guilty to insider trading after allegedly misappropriating confidential information on seven banks to make profitable trades.
New York-based investment firm Drexel Hamilton will pay more than $1.1 million in penalties, with four current and former employees paying fines as well over committing hundreds of violations of rules regarding the sale of municipal bonds.
