A -bsp-bb-link state=”{“bbHref”:”bbg://securities/MS%20US%20Equity/MODL”,”_id”:”0000018a-22e8-d65e-a1ea-23e9f4a60000″,”_type”:”0000016b-944a-dc2b-ab6b-d57ba1cc0000″}”>Morgan Stanley unit was fined £5.4 million ($6.8 million) for failure to retain messages sent by traders over WhatsApp in the first-ever penalty of its type issued under the powers of the UK’s energy regulator.
Morgan Stanley & Co. International Plc failed to record and save electronic communications between January 2018 and March 2020 made by energy traders on privately-owned phones which discussed transactions, Ofgem said in a statement on Wednesday.
Unlike US regulators, who have taken a -bsp-bb-link state=”{“bbDocId”:”RIX4HMDWRGG0″,”_id”:”0000018a-22e8-d65e-a1ea-23e9f4a70000″,”_type”:”0000016b-944a-dc2b-ab6b-d57ba1cc0000″}”>slew of actions in the past couple of years — including billions of dollars in fines to clamp down on the …
Source: news.bloomberglaw.com
