Several American banks were collectively fined US$549 million for breaching the bookkeeping rules in the 1934 Securities Exchange Act & the 1940 Investment Advisor Act.
The banks implicated admitted that they were unable to produce discussions about company business due to their employees' use of encrypted messaging apps like #Signal, #iMessage & #whatsapp.
#US #banks #fined #SEC #CFTC #MessagingApps