JPMORGAN CHASE PAYS A STEEP PRICE FOR COMMUNICATING COMPANY BUSINESS “PRIVATELY”

J PMorgan Chase was recently fined $200 million by regulators for failing to track work-related communication on employees’ personal cellphones and email.

Staff members in the bank’s securities division avoided oversight by discussing company business on their personal devices via text messages, the messaging service WhatsApp and personal email accounts, according to the Securities and Exchange Commission, which fined the bank $125 million.

In an official statement, Gary Gensler, S.E.C. chairman, said, “As technology changes, it’s even more important that registrants ensure that their communications are appropriately recorded and are not conducted outside of official channels.”

The Commodity Futures Trading Commission also fined the bank $75 million in a separate enforcement order for similar misconduct dating back to 2015.

Whether your business is under such official oversight, or you simply want to ensure that your employees avoid “offline” communications for their business calls, texts, and emails, we can help.

Most of these situations happen because the company does not make it possible to use work communications tools outside of the office. Or else, the process is too cumbersome and annoying, so the users get lazy and use their private text message or whatever – which flouts your policy.

The solution? Deploy our Elevate unified communications system. It allows your users to email, chat, and communicate freely, no matter the device or location, with an easy to use, integrated communications platform – all while still observing all designated regulatory standards and internal policies.

The end-user has the same unified experience over desktop, smartphone, etc., with the same appearance, feel, and features. All the features are available to the user no matter where they are. With Elevate, you can ensure that all emails and chat conversations are properly and securely preserved.

Shield Information Solutions provides client-focused “all-in-one” managed IT management services to organizations in diverse industries in the lower Hudson Valley and Bergen County area. Our experience, expertise, and proactive approach help ensure several substantial benefits, including: more predictable monthly IT costs; proactive monitoring and maintenance; regular software updates; optimal return on IT investment; and minimal downtime. If you’re looking for an IT partner with a backup plan that fully protects your business while lowering your monthly costs, please call Lee Sentell at 845-613-0600 or visit www.shieldinformation.com.