RBS become the latest firm to ban chat rooms

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Royal Bank of Scotland’s markets division has banned employees from using multidealer chat rooms, joining rivals in curbing the forums amid probes, according to a person with direct knowledge of the plan.

Bloomberg News reports that permanent chat rooms with workers at other banks, bank entities or competitors are prohibited, as well as those with clients, brokers and securities firms, unless certain criteria are met, according to the person.

RBS told the division’s trading staff that internal chats should be limited to its own systems and used only for business purposes, said the person, asking not to be named because the move wasn’t public.

RBS, Deutsche Bank and Citigroup are among firms reviewing e-mails, instant messages and phone records of their foreign-exchange employees for evidence of potential manipulation, people with knowledge of those probes have said.

To access the complete Bloomberg article hit the link below:

RBS Said to Join Chat Room Crackdown Amid Manipulation Probes 

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