By Aaron Nicodemus2023-02-09T18:43:00
French bank Société Générale is the latest financial institution to be swept up in U.S. regulators’ crackdown on the use of personal cellphones and private apps by employees to conduct official business.
In its fourth-quarter financial statements published online Wednesday, the bank disclosed its U.S.-based investment bank and trading arm, SG Americas Securities, “received requests for information from the U.S. Securities and Exchange Commission (SEC) focused on compliance with record-keeping requirements in connection with business-related communications on messaging platforms that were not approved by the firm.”
The disclosure acknowledged the SEC has entered into settlements with other firms regarding the matter and that SG Americas Securities was cooperating with the investigation.
2023-07-25T20:24:00Z By Aaron Nicodemus
Stockholder lawsuits have emerged as the latest aftershock from the regulatory crackdown against banks and financial services firms for allowing off-channel business communications by their employees.
2023-05-11T19:28:00Z By Aaron Nicodemus
The Bank of Nova Scotia and HSBC were fined $22.5 million and $15 million, respectively, by U.S. regulators for admitted recordkeeping failures regarding employee use of off-channel communications to conduct company business.
2023-02-22T16:02:00Z By Aaron Nicodemus
The Securities and Exchange Commission and Commodity Futures Trading Commission are investigating Wells Fargo regarding employees’ improper use of off-channel communications to conduct business and the bank’s recordkeeping of those communications.
2025-10-08T18:28:00Z By Adrianne Appel
Charlie Javice, a former CEO who duped JPMorgan Chase into purchasing her start up company for $175 million, has been ordered to forfeit more than $22 million by the Department of Justice (DOJ) and to spend 7 years in jail.
2025-10-07T16:08:00Z By Adrianne Appel
Georgia Tech Research Corp. (GTRC) has agreed to pay $875,000 to settle allegations first raised by two compliance officers that its cybersecurity protocols violated acceptable standards for defense contractors, the Department of Justice (DOJ) said.
2025-10-06T17:12:00Z By Adrianne Appel
Tractor Supply Company has agreed to get into compliance with California’s consumer privacy law and to pay a $1.35 million fine—the largest yet by California—to settle allegations it violated the privacy rights of customers and job applicants.
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