More Wall Street Brokerages Pay Fines in SEC WhatsApp Probe (2)

A fresh slate of Wall Street firms, including major brokerages, agreed to collectively pay tens of millions of dollars to US regulators over their employees’ use of unmonitored communication channels on the job.

The Securities and Exchange Commission said Friday that the firms, including Interactive Brokers Group Inc. and Robert W. Baird & Co., had broken rules that require employees’ business communications to be saved. In all, the companies agreed to pay $79 million in SEC penalties, according to the regulator.

Financial firms are required to monitor and save communications involving their business to head off improper conduct. ...