CIBC, Invesco, Stifel Pay Millions to Settle WhatsApp Probes (2)

US regulators levied more than $118 million in penalties against several financial firms for failing to keep employees’ electronic communications, the latest fallout from the so-called WhatsApp investigations.

The largest penalty, totaling $42 million, was paid by Canadian Imperial Bank of Commerce and two of its affiliates, according to statements by the Securities and Exchange Commission and the Commodity Futures Trading Commission. Stifel, Nicolaus & Co. agreed to pay $35 million to the SEC, as did Invesco Distributors and Invesco Advisers.

Gurbir Grewal

Photographer: Mark Kauzlarich/Bloomberg

The firms admitted the facts and have begun making internal changes, according to both the SEC and CFTC. ...