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A comment on Banks Hit with Millions in Fines for Using Signal and WhatsApp. Parent comment

Re:Banks Hit with Millions in Fines for Using Signal and Wha... by loeg on Tuesday August 08, 2023 @11:09AM (#37050138)
The weird step for me is the expansion of regulatory authority from published memos, to all written communication like texts and chats. I get it and don't really object to the end result, but it seems like the law should be updated to match what society desires to be regulated, rather than just relying on a generous interpretation by regulators.
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Re:Banks Hit with Millions in Fines for Using Signal and Wha... by JohnFen on Tuesday August 08, 2023 @11:36AM (#37050612)
> it seems like the law should be updated to match what society desires to be regulated

This absolutely happens. Usually, however, the regulators are interpreting the law in a way that the legislators agree with. In those cases, there is no need for new legislation.

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Re:Banks Hit with Millions in Fines for Using Signal and Wha... by TimTheTinker on Tuesday August 08, 2023 @11:34AM (#37050582)
I wonder if handwritten notes, post-its, or marks on whiteboards are also subject to regulatory authority.
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Re:Banks Hit with Millions in Fines for Using Signal and Wha... by misja111 on Tuesday August 08, 2023 @12:54PM (#37052020)
Yes they are, if you haven't taken care of keeping them out of sight of unauthorised other persons.
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Re:Banks Hit with Millions in Fines for Using Signal and Wha... by pasc1878 on Tuesday August 08, 2023 @09:18PM (#37057636)
The law does not need extending. It is that for bank traders ALL communications must be kept.
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Re:Banks Hit with Millions in Fines for Using Signal and Wha... by JumpCrisscross on Tuesday August 08, 2023 @09:57PM (#37057877)
> for bank traders ALL communications must be kept

One, not every securities professional trades at a bank. Two, this is not true for any of them. Broadly speaking, work-related written communications must be logged. But there is nuance and exception to that.

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