Steve Cohen's Point72 Asset Management and Ken Griffin's Citadel are among a number of major hedge funds that the US Securities and Exchange Commission is targeting over the use of personal mobile phones and apps such as WhatsAp at work by certain employees, according to a report by Bloomberg.
Steve Cohen's Point72 Asset Management and Ken Griffin's Citadel are among a number of major hedge funds that the US Securities and Exchange Commission is targeting over the use of personal mobile phones and apps such as WhatsAp at work by certain employees, according to a report by Bloomberg.
The report cites unnamed sources as saying that the SEC wants the firms to carry out a review of the use of personal phones as part of its investigation into business dealings being carried out via unapproved channels.
The move is part of a wider probe of record-keeping practices by the SEC and the Commodity Futures trading Commission (CFTC), which last year saw 16 financial firms, including large banks such as Goldman Sachs Group Inc and Morgan Stanley, fined a combined $1.8 billion after staff discussed deals and trades on personal devices and apps.
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