SCGLF - Societe Generale latest bank drawn into SEC's messaging investigation

• Societe Generale ( OTCPK:SCGLF ) is being probed by the U.S. Securities and Exchange Commission over whether the French lender has been keeping tabs of record-keeping requirements in connection with employees' communications on unauthorized messaging platforms, according to its annual report.
• The bank's U.S. unit said it's cooperating with the regulator's widening messaging investigation.
• The probe is part of a broader investigation of financial firms by U.S. authorities on their employees' use of messaging applications such as WhatsApp when its comes to business matters. In February 2022, Goldman Sachs ( GS ) disclosed it was being investigated by the SEC covering similar matters.
• Also, HSBC ( HSBC ) in February of last year said it was being probed by he U.S. Commodity Futures Trading Commission regarding interest rate swap transactions related to bond issuances as well as use of messaging platforms for for business communications .

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