2023-08-09 13:03:00
The sanctions include 11 brokers and investment companies, including Wells Fargo.
Dubai – Al Arabiya.net
Posted on: August 09, 2023: 05:03 PM GST Last updated: August 09, 2023: 05:19 PM GST
The US Securities and Exchange Commission charged 11 brokers and investment firms, including well-known institutions such as Wells Fargo, BNP Paribia, and Bank of Montreal, with failing to maintain the privacy of electronic communications and the use of applications such as WhatsApp and iMessages. In communicating with each other and with clients for business purposes.
The companies pleaded that their conduct violated the record-keeping provisions of the Securities Commission rules and agreed to pay combined fines of $289 million.
It is worth noting that since the beginning of the year, the Securities Commission has taken 30 similar measures, and ordered fines in excess of $1.5 billion.
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