Wall Street texting habit sticks banks with rare $1 billion bill
The sweeping civil probes rank among the largest-ever penalties levied against US banks for record-keeping lapses.
Regulators are poised to extract about $1 billion in fines from the five biggest U.S. investment banks for failing to monitor employees using unauthorized messaging apps.
Morgan Stanley disclosed on Thursday that it expects to pay a $200 million fine, the same amount JPMorgan Chase & Co. paid
Learn more about reprints and licensing for this article.
