Wells Fargo agreed to pay the largest penalties—$125 million to the SEC and $75 million to the CFTC—while fines ran from $9 million to $75 million for the other firms. They include Bank of Montreal, BMO Capital Markets, BNP Paribas, Houlihan Lokey Capital, Mizuho Securities USA, Moelis & Company, SMBC Nikko Securities America, Société Générale and Wedbush Securities.
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The SEC said that senior executives and other employees engaged in “off-channel communications … through various messaging platforms on their personal devices, including iMessage, WhatsApp, and Signal.”