Wall Street

Barclays latest global bank ensnared in U.S. ‘Whatsapp’ probes

Published by
Reuters

By Iain Withers and Tom Sims LONDON/FRANKFURT (Reuters) – Barclays joined a host of European banks feeling the pinch of a U.S. regulatory probe into breaches related to the use of messaging apps such as Whatsapp, setting aside $200 million to cover the costs in half-year results on Thursday. U.S. regulators have been cracking down on the use of personal communications platforms by bank staff to discuss potentially market-moving matters with clients, with the issue gaining urgency since the COVID-19 pandemic led to more bankers working from home. Regulators require finance companies to keep a r…

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