Wall Street to pay $1.8 billion in fines for traders’ use of banned messaging apps

WASHINGTON — Eleven of the world’s largest banks and brokerages will pay a combined $1.8 billion in fines to resolve regulatory investigations into their employees’ use of messaging applications that violated record-keeping rules, regulators said Tuesday.

The firms include brokerage units of Bank of America Barclays Citigroup Inc., Credit Suisse Group the German bank Goldman Sachs Group Morgan Stanley, UBS Group and Nomura Holdings Inc. Brokerage firms Jefferies LLC and Cantor Fitzgerald & Co. also settled the claims with the Securities and Exchange Commission and the Commodity Futures Trading Commission.