JPMorgan and Deutsche Bank join ban on multiparty chat rooms

After recent investigations of interest rate rigging, JP Morgan and Deutsche join the likes of UBS and Citigroup to ban traders communicating with other firms

Working in the finance industry comes with strict compliance guidelines due to the amount of currency being traded. So its doesn’t come as a surprise that big banks such as JP Morgan Chase and Deutsche Bank AG are cracking down, banning their traders from using multiparty chatrooms with employees at other firms.

The trend of curbing external communication within competitive firms began after recent investigations into currency manipulation activity became prevalent in the industry. According to a recent Bloomberg report, investigators around the world have been scouring shared financial chat forums for evidence of wrongdoing in probes ranging from alleged manipulation of foreign-exchange markets to interest-rate rigging. 

Contributing Author

Stefanie Mosca

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