The Security and Exchange Commission is cracking down on the use of third-party messaging apps among its staff to improve recording keeping and transparency.
The SEC enforces record-keeping rules for public companies, action that has seen billions of dollars in fines for companies that fell short, thanks to the use of messaging apps like WhatsApp and Signal. According to Bloomberg, the agency is now working to ensure it operates by the same rules it is enforcing.
Much of the issue stems from the fact that WhatsApp, Signal, and similar apps allow for disappearing messages, a clear issue when it comes to maintaining a record of communication. The agency is also restricting the use of SMS and iMessage as well, telling Bloomberg that doing so is “to lower risk that our systems could be compromised and to enhance recordkeeping.”
The agency hopes the measure will help it improve its cybersecurity following an embarrassing incident in which its X account was compromised by bad actors.