Corruption, Crime & Compliance: Electronics Communications Risks in The Era of Ephemeral Messaging
Compliant Business Communications Through Messaging Apps
M365 in 5 – Part 5: Teams Chats – Modern communications
Since 2019, the number of users on Microsoft Teams has risen 1500%, from a modest 20 million users in the pre-pandemic year (2019) to over 320 million users in 2024. Microsoft's collaboration platform is now the default...more
The SEC's wave of enforcement actions concerning "off-channel" communications did not abate in 2024. In total, the SEC announced more than 70 firms agreed to pay more than a half-billion dollars combined to settle charges for...more
Organizations whose mantra is “We just never delete anything” (i.e., organizations simply retaining all information indefinitely) are now facing headwinds, especially when the information contains personal information. As our...more
Who may be interested: Registered Investment Advisers, Registered Investment Companies, Compliance Staff - Quick Take: The SEC recently announced a number of additional enforcement actions relating to recordkeeping...more
The U.S. Securities and Exchange Commission (SEC) brought more actions targeting regulated entities for recordkeeping violations related to employees using noncompany communications platforms, and both the SEC and the U.S....more
On August 14, 2024, the U.S. Securities and Exchange Commission (SEC) announced another series of settlements regarding “off-channel communications.”1 As part of its Off-Channel Communications Initiative,2 the SEC settled...more
On August 14, the U.S. Securities and Exchange Commission (“SEC”) announced yet another wave of enforcement actions related to widespread “off-channel communications,” charging an additional 26 firms with failing to maintain...more
On February 9, 2024 the U.S. Securities and Exchange Commission (the “SEC”) announced charges against 16 registered investment advisers and broker-dealers for pervasive recordkeeping failures related to off-channel...more
On February 9, the Securities and Exchange Commission (SEC) announced settlements with 16 firms relating to record-keeping violations stemming from off-channel communications totaling $81 million. The 16 firms were five...more
In an increasingly digital world, financial firms need to be mindful of the variety of electronic communication channels that their employees use for work. Even where firms require employees to use firm-managed email networks...more
Ages ago, hieroglyphics were painstakingly etched into stone. They communicated various types of messages, from fables to business transactions, and lasted thousands of years. Today, we still communicate the same type of...more
The SEC and CFTC settlements with HSBC and Scotia Capital come after years of federal regulators’ and prosecutors’ steadily increasing scrutiny of off-channel communications. Anchoring these settlements are long-standing...more
As U.S. regulators and enforcement authorities alike become increasingly focused on corporate oversight practices of their employees' use of third-party messaging applications, including ephemeral messaging, companies should...more
Take one look at your phone and count how many different message apps you have. WhatsApp, Facebook Messenger, Snapchat, Telegram, Signal, iMessage. Those are just some of the most popular messaging applications available...more
Users of ephemeral messaging applications may intend that their messages be—as the word “ephemeral” suggests—short lived, but the real-world consequences and legal ramifications from improper use of such apps can be anything...more
An investment management company was recently hit with $200 million in fines for failing to track employees’ use of personal messaging apps, which resulted in the loss of communications that were subject to regulatory...more