SEC Expands WhatsApp Scrutiny to Money Manager Communications

The regulator has recently sent letters to investment firms requesting information on their employees’ communications practices, according to three people familiar with the matter. Dozens of firms have received the queries into which devices and apps they allow for official communications, said one of the people who, like the others, asked not to be identified discussing the matter due to its sensitivity. The SEC, which declined to comment, also wants to know whether the investment firms are retaining electronic records generated on those platforms, the person said.