Business

Wall Street banks pay $1.1 billion for messaging breach

16 Wall Street banks and brokerages including Goldman Sachs, Morgan Stanley and Barclays have agreed to pay more than $1.1 billion in fines over allegations of “universal failure,” the U.S. securities regulator said. variable and lasting”.

The U.S. Securities and Exchange Commission said the institutions admitted to violating federal record-keeping requirements after an investigation uncovered “communications beyond the dissemination channel.”

“Ultimately, finances depend on trust. By failing to honor their record-keeping obligations and books and records, the market participants we charged today failed to maintain that trust,” said Gary Gensler, president SEC, said in a statement announcing the fees and penalties on Tuesday.

The investigationwent public last year, rocked Wall Street, put some bankers out of work and prompted lenders to crack down on the unauthorized use of messaging apps like WhatsApp and Signal.

Source link

news7h

News7h: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button
Immediate Peak