Goldman Sachs is the latest financial services firm to attract the Securities and Exchange Commission’s scrutiny over the monitoring of its employees’ communication, according to news reports.
The company is cooperating with the regulator’s investigation into how it preserved employee communications that the firm hasn’t approved, Goldman said in a regulatory filing Friday, according to Reuters and Bloomberg.
The SEC launched the probe in October as part of its investigation into how financial firms track their workers’ digital communications, according to Reuters.
The regulator has been paying closer attention to how financial firms monitor their employees’ communications, as Goldman said in its regulatory filing, according to Bloomberg.
In December, JPMorgan admitted to failures in keeping track of its employees’ communications via personal devices and accounts, agreeing to pay $200 million in penalties to the SEC and the Commodity Futures Trading Commission, as reported.
At the time of the settlement, the SEC said it was going after other firms in the industry over potential recordkeeping violations.
Much of the industry has had to adapt to an environment in which the bulk of their staff worked from home in the middle of the Covid-19 pandemic.
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