Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did.Read how

Major private equity firms become latest targets in SEC's communication probe

Published 11/09/2022, 09:06 AM
Updated 11/09/2022, 09:17 AM
© Reuters. FILE PHOTO: Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 23, 2018. REUTERS/Brendan McDermid/File Photo

(Reuters) - U.S. private equity giants KKR & Co (NYSE:KKR) Inc, Apollo Global Management (NYSE:APO) and Carlyle Group (NASDAQ:CG) were added to a broad regulatory inquiry into how financial firms track employees' digital communications, filings by the companies showed on Wednesday.

The scope of the investigation around how Wall Street handles work-related communications on personal devices and apps such as WhatsApp was expanded by the U.S. Securities and Exchange Commission to include investment funds and advisers, people familiar with the matter told Reuters in October.

The enquiry that initially involved some of the largest banks in the United States was first launched last year by the regulator.

The scrutiny highlights the challenges Wall Street institutions have faced in tracking staff communications in the work-from-home pandemic era, particularly over personal devices. Most have now adopted hybrid-work models, which allow employees to divide their time between office and remote arrangements.

The companies said they were cooperating with the SEC probe.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.