Published on Feb 9th, 2023 |

Firm Fines Employees for Unauthorized Whatsapp Use

News & Alerts

Brief Introduction

A well known large firm recently issued fines of up to $1 Million to some of its employees for using unapproved mobile messaging apps. After a fine of $200 Million last year for similar violations, the firm has decided to take action on some of its employees, holding them accountable.

What Happened?

What Happened?

  • The SEC has levied fines against firms for failing to keep communications records.
  • This firm had been fined $200 million previously for recordkeeping violations.
  • Based on number of messages, seniority, and other prior warnings, the penalties to employees have varied.
  • Some amounts were in the thousands, while almost $1 million for other employees.

Vigilant's Final Conclusion

Vigilant’s Final Conclusion

The SEC is taking the enforcement of recordkeeping rules very seriously.

Over sixteen firms were charged over $1.1 billion in September for failure to maintain electronic communication records.

As the SEC continues to pursue an aggressive regulatory strategy, it is vital that compliance departments have the resources they require.

Vigilant provides a customized suite of compliance solutions that are tailored to your specific business’s needs.

Contact Us For Compliance Assistance