Politics and Government Politics and Government

Exclusive: WhatsApp use by Credit Suisse staff scrutinised by UK regulator, documents show


Published on 2024-12-06 11:30:50 - Reuters
  Print publication without navigation

  • The UK's Financial Conduct Authority is scrutinising allegations that some former Credit Suisse employees shared confidential information over the WhatsApp messaging platform, documents seen by Reuters show.

The UK's Financial Conduct Authority (FCA) is investigating the use of WhatsApp by Credit Suisse staff for potentially breaching regulations on recording and retaining electronic communications, according to documents reviewed by Reuters. The FCA's scrutiny focuses on whether Credit Suisse employees used the messaging app for business-related discussions without proper documentation, which is required under financial regulations. This investigation comes in the wake of similar probes into other financial institutions for similar practices. The documents reveal that the FCA has been examining communications from several former and current Credit Suisse bankers, highlighting concerns over compliance with rules designed to ensure transparency and accountability in financial dealings.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/whatsapp-use-by-credit-suisse-staff-scrutinised-by-uk-regulator-documents-show-2024-12-06/ ]