Update: Banco Santander Follows Up to Prohibit Unauthorized Messaging Apps

MT Newswires Live06-21

(Updates with additional information throughout and Banco Santander's response in the fourth paragraph.)

Banco Santander (SAN) is again asking its investment bankers in Spain to remove unauthorized messaging software from company-issued devices, a person familiar with the matter told MT Newswires on Thursday.

The follow-up action follows similar moves by Santander management in the US and UK to have investment professionals delete messaging apps such as Meta Platform's (META) Whatsapp from their devices amid a crackdown on unauthorized communications and incomplete record-keeping, unnamed sources told Bloomberg.

Santander previously had told employees in Spain to delete those apps, but some did not, which suggested they may still be using them, Bloomberg reported, which first reported on the recent action.

In a statement sent to MT Newswires, Santander said it has "well defined protocols regarding the usage of communication channels" and emphasized its adherence to regulatory requirements and industry best practices. The bank has not been fined or cited by regulators regarding its internal communications.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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