Business

Wall Street pays $1.8 billion in fines for merchants’ use of banned messaging app


WASHINGTON — The world’s eleven largest banks and brokerages will have to jointly pay $1.8 billion in fines to settle regulatory investigations into their employees’ use of messaging apps. broke records-keeping rules, regulators said Tuesday.

Companies including brokers of Bank of America Barclays Citigroup Inc., Credit Suisse Group AG, Deutsche Bank AG, Goldman Sachs Group Morgan Stanley, UBS Group and Nomura Holdings Inc. The brokerages Jefferies LLC and Cantor Fitzgerald & Co. also settled complaints with the Securities and Exchange Commission and the Commodity Futures Trading Commission.



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