Sep
14
Wall Street Banks Reach Deal With Regulators on Data Retention
ByFour of Wall Street’s biggest banks on Monday agreed to cooperate with New York regulators and retain copies of communications sent through the messaging platform known as Symphony.
The New York State Department of Financial Services was concerned that the platform would allow traders to delete or encrypt information that could be used to track evidence of rigging schemes among traders at various banks. Messaging in chat rooms is believed to have figured prominently in schemes to manipulate global exchange rates and benchmark interest rates…
Wall Street Banks Reach Deal With Regulators on Data Retention
