NEW YORK: Large Wall Street firms agreed to pay $1.8 billion in fines over failures to keep electronic records such as text messages between employees on personal mobile phones, US authorities announced Tuesday.
Barclays, Bank of America, Deutsche Bank and Goldman Sachs were among the firms that agreed to fines over "longstanding failures" to maintain and preserve electronic communications that must be available to regulators in the course of oversight, the Securities and Exchange Commission (SEC) said in a statement.
