Anonymous ID: 9a1720 Jan. 13, 2020, 6:25 a.m. No.7800265   🗄️.is đź”—kun   >>0287 >>0337 >>0384

JPMorgan Puts Senior Credit Trader on Leave Over WhatsApp Use

 

Edward Koo is not working on the credit desk amid inquiry. Koo, who leads various credit groups, is still a bank employee.

 

WhatsApp may be a great way to communicate with friends, but when Wall Streeters touch it, their firms get very nervous.

 

One of JPMorgan Chase & Co.’s most senior credit traders, Edward Koo, has become the latest member of the industry swept up in concern over the messaging app. The veteran trader, who has spent almost 20 years at the firm, was placed on leave as the bank reviews whether he broke its policies by using WhatsApp group chats with colleagues, according to people with knowledge of the matter.

 

The discussions included market chatter, and the probe so far hasn’t indicated any improper activity, according to a person familiar with the investigation. The bank hasn’t ruled out taking action against other members of the group, one of the people said. A representative for JPMorgan declined to comment, and Koo didn’t respond to requests for comment.

 

The review may be concluded with no further action being taken, the people said. Still, JPMorgan’s decision to force someone of Koo’s stature off the trading floor while it looks into the matter is indicative of the seriousness with which banks are grappling with the profusion of new communication platforms.

 

Wall Street banks have a complicated relationship with WhatsApp. Messages on the service are encrypted from start to finish, and can’t easily be monitored by a compliance department, a problem for firms that need to make sure their employees aren’t engaging in illegal activity like fraud or insider trading.

 

https://www.bloomberg.com//news/articles/2020-01-13/jpmorgan-puts-senior-credit-trader-on-leave-over-whatsapp-use

Anonymous ID: 9a1720 Jan. 13, 2020, 6:42 a.m. No.7800365   🗄️.is đź”—kun   >>0387 >>0397

>>7800337

> Still, JPMorgan’s decision to force someone of Koo’s stature off the trading floor while it looks into the matter is indicative of the seriousness with which banks are grappling with the profusion of new communication platforms.

 

you don't get suspended for nothing. They did not care what the ee's did as long as it made them money. That it's even being mentioned should tell you something.

 

>>7800335

yer a fuggen genius. :/