WhatsApp Use Costs Morgan Stanley US$ 6.9 Million
Posted on 08/24/2023
Morgan Stanley will pay £5.41 million for discussing energy deals on WhatsApp. The UK’s Ofgem says energy deals were discussed on the communication program owned by Meta, even though Morgan Stanley had a policy against it. The use of WhatsApp or similar programs could potentially be used for insider trading purposes, and as a result this was a violation of new transparency rules.
Morgan Stanley had no comment.