By Jeffrey Quiggle After a regulatory crackdown on Wall Street last year, extraordinary measures are being taken to avoid repeat offenses. Last September, the Securities and Exchange Commission (SEC) punished 15 broker-dealers for failures to maintain and preserve electronic communications. This largely involved traders using personal devices to discuss financial matters with colleagues and clients. The SEC requires banks to preserve all records of such communications, so any use of personal communications such as text messages and WhatsApp makes reporting impossible. Traders must use official…
