SEC’s WhatsApp Probe Reaches Into PE With Apollo, Carlyle, KKR

Financial regulators are looking at the biggest private equity firms’ use of WhatsApp and other messaging apps for work, in a signal that the US is ramping up its push to police Wall Street’s electronic communications.

Apollo Global Management Inc., Carlyle Group Inc. and KKR & Co. said in regulatory filings this week that they received letters from the Securities and Exchange Commission on their use of electronic messaging for business.

Financial firms must follow rules to monitor business communications to head off improper conduct. Investment advisers and money managers are required to retain records related to the provision ...