JPMorgan Chase & Co. has put one of its senior credit traders, Edward Koo, on leave as the company investigates whether he violated its policies by using WhatsApp to communicate with colleagues, Bloomberg News reported, citing people with knowledge of the matter.
A source told the news outlet that the discussions over the messaging app were related to the market, but the company's review has not suggested any wrongful activity and may not even result in any further action being taken, according to the report. However, JPMorgan could still take action against other members of the group, one of the people told Bloomberg.
The issue on the use of WhatsApp has been tricky for many companies, Bloomberg News added, saying that while older forms of communication are monitored by banks, totally banning WhatsApp is difficult because it is also being used for personal communication.
JPMorgan's representative declined to comment, while Koo did not respond to the news outlet's requests for comment.