QED.
Exactly *which* part of the last part of the last sentence didn't you
understand!?
I'll repeat it for you and will highlight (uppercase) the relevant
parts:
> weil die Praktiken gegen Vorgaben
> zur AUFBEWAHRUNG von geschäftlicher Kommunikation VERSTOßEN haben.
In English, courtesy Google Translate:
> for practices that VIOLATED
> RETENTION requirements for business communications.
(the next section talks in more detail about the Aufbewahrung/retention
violations).
So the fines are *not* about the *use* of WhatsApp/iMessage/Signal/
etc., but about not *archiving* the communication in a compliant manner.
Bottom line: Your continued dishonest misrepresentation amounts to
either ignorance/cluelessness/stupidity or lying. Take your pick.
For the rest of the audience, the full text from Google Translate:
"USA: Banks pay a fine of 550 million US dollars for using WhatsApp &
Co.
US regulators are taking action against bank employees writing business
messages on messengers. Another $550 million fine followed.
08/09/2023 09:36 am
From Martin Holland
In the US, other banks and financial firms have to pay a total of 555
million US dollars in fines because employees used messengers such as
iMessage, WhatsApp and Signal for business communication. This was
announced by the US capital market authorities SEC (Securities Exchange
Commission) and CFTC (Commodity Futures Trading Commission). The US
bank Wells Fargo pays the largest fine this time with 200 million US
dollars. The major French banks BNP Paribas and Société Générale each
account for 110 million US dollars. Overall, the financial industry has
been fined more than $2.5 billion for practices that violated retention
requirements for business communications.
Even supervisors careless
The actions of the US financial market regulator are by no means over
with the new penalties, reports Bloomberg . A large number of companies
have already announced that they are also investigating. In the
meantime, the stock exchange supervisory authority assumes that many
companies have not yet reported. The SEC is now advising them :
"Self-disclosure, cooperation and remedy". Doing this will get better
results than waiting for the SEC to come forward. The CFTC
criticizednor that each investigation found new examples of how
employees were not prevented from using unauthorized messengers. In
some cases, this also applies to those responsible for internal
compliance with the requirements.
The retention of internal and external communications is of the utmost
importance because it can form the basis for subsequent official
investigations. From the point of view of the US authorities, not
providing these documents is like covering up one's own misconduct. In
addition, in the case of court cases, US civil procedure laws allow the
parties to the case to inspect one another's internal records,
including records of communications. As a result, US officials are
upset when financial institutions allow employees to opt out of
automatic storage. According to the Financial Times, at least one US
bank, Morgan Stanley, has passed some of the penalties on to its
employees. Some would have had to pay more than a million US dollars.
( mho )"