Two months ago, the Securities and Exchange Commission (SEC) said it had fined 16 Wall Street firms more than $1.1 billion for “widespread recordkeeping failures” regarding maintaining electronic communications, contravening federal securities laws. In addition, the SEC is now probing private equity firms on their employees’ use of messaging apps for work purposes, including WhatsApp, Signal and Telegram, as many of these apps have functions that support messages that disappear automatically, representing potential violations of SEC rules.

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