“A Morgan Stanley unit was fined £5.4 million ($6.9 million) for failure to retain messages sent by traders over WhatsApp in the first-ever penalty of its type issued under the UK energy regulator’s powers.

Morgan Stanley & Co. International Plc failed to record and retain electronic communications between January 2018 and March 2020 made by energy traders on privately-owned phones which discussed transactions, Ofgem said in a statement on Wednesday.”