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US fines 16 Wall Street firms $1.8B for talking deals trades on personal apps
- Karupan 4y agoAs long as fine are small enough to be treated as a running cost, the companies and their shareholders won't care about breaking or bending the rules. It's great that the SEC investigated this behavior, but fine is nothing more than a slap on the wrist.
- fisherjeff 4y agoI agree in the general sense, but on average the fines in this case were over $100m. That’s like 1/6 of BAC’s liquid assets, for example.
- kangaroozach 4y agoThere does not exist the ideal messenger for financial communication. Not between bankers and not between asset manager to client.
- sinuhe69 4y agoWhat about talking business over the (personal) phone? I guess the same rules will apply but I wonder got the banks can records all phone calls when their staff are working from home?
- sinuhe69 4y agoDoes it mean there’s a market for business communication app where users can set rules to automatic delete/store and obfuscate their conversation at will? :D