(Bloomberg) -- Goldman Sachs Group Inc. became the latest bank to be investigated over employees communicating using messaging services that aren’t approved by the companies.
Goldman is cooperating with the Securities and Exchange Commission and producing documents related to an investigation into “compliance with records preservation requirements relating to business communications sent over electronic messaging channels that have not been approved by the firm,” the New York-based bank said in a regulatory filing Friday.
In December, the SEC and Commodity Futures Trading Commission imposed $200 million in fines on JPMorgan Chase & Co., saying that even managing directors and other senior supervisors at the bank had skirted regulatory scrutiny by using services such as WhatsApp or personal email addresses for work-related communication. This week, HSBC Holdings Plc said it’s being investigated by the CFTC over bankers’ misuse of WhatsApp and other messaging platforms.
In its filing, Goldman pointed to the probes elsewhere. “The SEC has stated that it is conducting similar investigations of record preservation practices at other financial institutions,” the bank said.
©2022 Bloomberg L.P.