- Deutsche Bank AG (NYSE:DB) is among several investment banks included in a comprehensive industry-wide U.S. regulatory probe, Bloomberg reports.
- The investigation determines the degree of employee reliance on private communication channels like Meta Platforms Inc (NASDAQ:FB) WhatsApp to conduct business.
- Deutsche Bank tested new software to improve its ability to archive messages and has repeatedly warned staff not to delete messages.
- German supervisor BaFin sought similar information requests from Deutsche Bank, including the messaging behavior of CEO Christian Sewing and the rest of the management team.
- The use of personal communication tools attracted intense scrutiny since U.S. regulators slapped $200 million in fines on JP Morgan Chase & Co (NYSE:JPM) in December for failing to keep adequate records of staff messages.
- At least five other global banks acknowledged fielding U.S. inquiries since the JPM penalty.
- Price Action: DB shares traded higher by 2.39% at $10.07 on the last check Thursday.
