SEC asks big hedge funds for employee phone review - Bloomberg News (updated)

Citadel Income Fund

02/02/2023 15:18

(Adds Citadel response, details from report)
       Feb 2 - The U.S. Securities and Exchange Commission has
asked some major hedge funds to review certain employees'
personal mobile phones for evidence of business dealings on
unapproved channels, Bloomberg News reported on Thursday.
    The hedge funds include Steve Cohen's Point72 Asset
Management and Ken Griffin's Citadel, the report said, citing
people familiar with the matter. 
    The SEC and Point72 and did not immediately respond to
Reuters request for comment, while Citadel said it had no
immediate comment.
    Last year, the SEC and the Commodity Futures Trading
Commission (CFTC) fined 16 financial firms, including large
banks such as Goldman Sachs Group Inc  GS.N  and Morgan Stanley
 MS.N , a combined $1.8 billion after staff discussed deals and
trades on their personal devices and apps, in a sweeping probe
of record-keeping practices.
    Reuters reported in October that the SEC's probe had
expanded to investment funds and advisers.
 (Reporting by Niket Nishant in Bengaluru; Editing by Shinjini
Ganguli)
 ((Niket.Nishant@thomsonreuters.com))