HSBC to Ban Text Messaging on all Company-Issued Devices, Goldman Sachs Fires Head of Transaction Banking & Senior Executives for Violating Internal Communications Policies, Top Financial Institutions Including Goldman Sachs Fined $1.8 Billion in September 2022 for Whatsapp Usage

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HSBC to Ban Text Messaging on all Company-Issued Devices, Goldman Sachs Fires Head of Transaction Banking & Senior Executives for Violating Internal Communications Policies, Top Financial Institutions Including Goldman Sachs Fined $1.8 Billion in September 2022 for Whatsapp Usage

21st October 2023 | Hong Kong

HSBC is planning to ban text messaging on all company-issued devices. In September 2023, Goldman Sachs was reported to have fired the Head of Transaction Banking and senior executives for violating internal communications policies, with many top financial institutions including Goldman Sachs fined $1.8 billion in 2022 September (Citi, UBS, Credit Suisse, Goldman Sachs, Morgan Stanley, Bank of America, Deutsche Bank, Barclays) for Whatsapp usage.   In August 2023, the United States Securities & Exchange Commission (SEC) fined 11 firms $289 million for record keeping failures & using off-channel communications including iMessage, Whatsapp & Signal since 2019, with the 11 firms (and subsidiaries) fined including Wells Fargo, BNP Paribas, BMO, Mizuho, SMBC Nikko, SG Americas, Houlihan Lokey, Moelis & Co & Wedbush.

“ HSBC to Ban Text Messaging on all Company-Issued Devices, Goldman Sachs Fires Head of Transaction Banking & Senior Executives for Violating Internal Communications Policies, Top Financial Institutions Including Goldman Sachs Fined $1.8 Billion in September 2022 for Whatsapp Usage “

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Goldman Sachs Fires Head of Transaction Banking & Senior Executives for Violating Internal Communications Policies, Top Financial Institutions Including Goldman Sachs Fined $1.8 Billion in September 2022 or Whatsapp Usage

16th September 2023 – Goldman Sachs has been reported to have fired the Head of Transaction Banking and senior executives for violating internal communications policies, with many top financial institutions including Goldman Sachs fined $1.8 billion in 2022 September (Citi, UBS, Credit Suisse, Goldman Sachs, Morgan Stanley, Bank of America, Deutsche Bank, Barclays) for Whatsapp usage.   In August 2023, the United States Securities & Exchange Commission (SEC) fined 11 firms $289 million for record keeping failures & using off-channel communications including iMessage, Whatsapp & Signal since 2019, with the 11 firms (and subsidiaries) fined including Wells Fargo, BNP Paribas, BMO, Mizuho, SMBC Nikko, SG Americas, Houlihan Lokey, Moelis & Co & Wedbush.

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