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Using throwaway account. I work at a broker-dealer. This is part of a huge ongoing battle with the SEC. Broker-dealers under SEC rules must constantly monitor a
by throwaway837282 5y ago
Using throwaway account. I work at a broker-dealer. This is part of a huge ongoing battle with the SEC. Broker-dealers under SEC rules must constantly monitor all employee communications, flagging for keywords and reviewing a large subset. These communications go to WORM storage and in practice are periodically dumped to the SEC. If an employee talks about work on a personal device that isn’t being actively monitored- huge fines like this one. You can beg your employees not to do it all you want, but ultimately there are only two ways for a company to respond to this enforcement: do all work over phone calls and not text, which the SEC is fine with, or start monitoring personal communications.
I’ll leave it to you all to decide which course of action you think JP Morgan should take.