JPMorgan Chase: One Insignificant Question
December 24, 2021
Years ago I did some analysis for an upscale financial outfit which shall remain nameless in this post. I recall one question I was asked at lunch, at institution-sponsored conferences, and in hallways. The question? It was, “How do burner phones work?” The individuals asking often said, “I am just curious, of course.”
Of course.
I thought of these questions when I read “SEC Gives JPMorgan Chase Record Fine for Using WhatsApp to Conduct Business.” [If the link is dead, you are on your own, gentle reader.] The write up explains that some over achievers were sidestepping assorted rules, guidelines, recommendations, suggestions, and cultural norms to “conduct business” without being monitored. Here’s a passage I noted:
The SEC said the practice of using third-party communication apps was widespread at JPMorgan Chase. Another regulator, the Commodity Futures Trading Commission, also said Friday that it fined JPMorgan $75 million for using unapproved communications.
Okay. WhatsApp.
But what about burner phones? Probably not a problem among the squash playing financial health fanatics. I am just curious, of course.
Stephen E Arnold, December 24, 2021
Comments
-
- Subscribe to Beyond Search
Feature archive
News archive
-
