Investment banks were ordered to pay $1.8 billion in fines last week for employees' unmonitored communications on messaging apps like WhatsApp. Experts say other banks could also be subject to such fines if they're not careful.
After a yearlong investigation by the Securities and Exchange Commission, large investment banks including BofA, Citi and Deutsche admitted they failed to monitor their employees on certain messaging channels such as WhatsApp.
Contract lifecycle management helps streamline your legal workflow. Knowing the best practices can help you find the best approaches and get maximum benefits from using the CLM system.