HSBC is blocking staff from texting on their work phones in the latest fallout from regulatory probes into the industry’s use of unauthorized communication methods.
The firm is in the process of disabling the function on employees’ company-issued phones, meaning they will be unable to send or receive text messages, according to people with knowledge of the matter.
The ban on SMS applies across the bank, the people said on the condition of anonymity.
HSBC had already blocked staff from using WhatsApp on work phones earlier, they said. A small number of workers in regulated roles will still be allowed to send text messages on phones where the activity is archived, however, personal devices remain unaffected, the people said.
The move comes as financial watchdogs investigate the devices used by traders and dealmakers to share information, and the way their employers keep track of these.
It is aimed in part at preventing financial misconduct after cases of market manipulation at some of the banks on Wall Street.
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