New York-based global investment bank Morgan Stanley has given financial punishments to several of its employees, with fines of over a million dollars, for utilizing messaging applications like WhatsApp to do corporate business.
The US Securities and Exchange Commission (SEC) and the Commodity Futures and Trading Commission (CFTC) investigated Morgan Stanley’s record-keeping practices and imposed a monetary penalty of $200 million. In 2020, Morgan Stanley fired two senior employees for using personal messaging applications.
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