Regulators hit Wall Road banking institutions with $549 million in penalties for history-trying to keep failures

Regulators hit Wall Road banking institutions with 9 million in penalties for history-trying to keep failures

Crucial Points

U.S. regulators on Tuesday announced a combined $549 million in penalties from Wall Avenue corporations that failed to retain digital information of worker communications.
The Securities and Trade Fee announced expenses and $289 million in fines against 11 corporations for “common and longstanding failures” to keep records, together with by enabling workers to use unsupervised aspect channels such as messaging applications WhatsApp and Signal, the regulator said.
The Commodity Futures Trading Commission also said it fined 4 banks a whole of $260 million for failing to sustain information needed by the agency.

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