Matt Levine’s Money Stuff: Citadel Might Fight for Its Texts

Citadel cell phones

The US Securities and Exchange Commission has a rule that, if you work in the financial industry, you are only allowed to communicate about work with your colleagues and customers using systems — like your firm email account or Bloomberg messaging — that your firm can archive and review. You are not allowed to use WhatsApp or Signal or iMessage or text messaging from your personal phone. Financial industry employees have to “conduct their communications about business matters within only official channels, and they must maintain and preserve those communications,” as SEC Chair Gary Gensler put it last year, ...