23 Aug, 23

UK Fines Morgan Stanley For Energy Traders Using Private WhatsApp Messages

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The UK regulator Ofgem said on Wednesday it had fined Morgan Stanley & Co. International plc (MSIP) for failure to record and retain electronic trading communications in energy trades after wholesale energy traders were found to have used WhatsApp on privately owned phones to discuss energy market transactions. The failure to comply with the requirement to record and retain electronic trading communications was for the period between January 2018 and March 2020.    Ofgem has levied a fine of $6.8 million (£5.41 million) on Morgan…

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