SEC's WhatsApp Probe Reaches Into PE With Apollo, Carlyle, KKR – Yahoo Finance

(Bloomberg) — Financial regulators are looking at the biggest private equity firms’ use of WhatsApp and other messaging apps for work, in a signal that the US is ramping up its push to police Wall Street’s electronic communications.Most Read from BloombergTwitter Now Asks Some Fired Workers to Please Come BackSam Bankman-Fried’s $16 Billion Fortune Is Eviscerated in DaysSam Bankman-Fried Bows to Rescue From Binance’s CZ as FTX BucklesElon Musk Tells Twitter Followers to Vote for a Republican CongressPutin’s Elite Tremble as Hardliners Call for ‘Stalinist’ StepsApollo Global Management Inc., Carlyle Group Inc. and KKR & Co. said in regulatory filings this week that they received letters from the Securities and Exchange Commission on their use of electronic messaging for business.Financial firms must follow rules to monitor business communications to head off improper conduct. Investment advisers and money managers are required to retain records related to the provision of investment advice.The use of WhatsApp, Signal, Telegram and other chat apps has become prevalent since the pandemic forced traders and dealmakers to work from home. Many of these apps have functions to make messages automatically disappear, and financial-firm employee use of the apps represents potential violations of SEC regulations.The SEC sent letters
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