Messaging Apps Come Under Increasing Regulatory Scrutiny

As enforcement actions increase, the intensifying spotlight on WhatsApp and other mobile texting software is prompting many companies to actively seek legal guidance and make compliance and technology changes, while some in the lesser regulated space may be taking more of a “wait and see” approach. Already this year, the SEC, FINRA and the Commodity Futures Trading Commission have lodged enforcement actions against companies over improper use of off-channel messaging apps, and the DOJ issued updated guidance in March on its expectations for compliance programs, including a warning that all companies facing investigations are expected to have stated policies and procedures around usage. This article offers a glimpse into current corporate concerns about messaging apps and how attorneys at Ballard Spahr and Paul Hastings are helping clients address them. See “Electronic Communications: Useful Training Techniques and Policies and Procedures to Adopt” (Oct. 13, 2021).

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