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The New York Department of Financial Services has written to Symphony Communication Services's chief executive, David Gurle, requesting information regarding the communications tools marketed by Symphony Communication Services LLC, including those related to document retention policies, and features. Specific areas of interest for the NYDFS include but are not limited to the data deletion, end-to-end-encryption and open source features of Symphony's products.
The NYDFS noted that "there has been a series of market manipulation schemes at Wall Street banks, including those to rig benchmark interest and foreign exchange rates. Key evidence that regulators used to uncover and investigate those schemes was found in chat room transcripts and other written communications retained by the banks.
Click here to download the letter from Anthony J. Albanese, Acting Superintendent of Financial Services to David Gurle.
