12:06 PM EDT, 03/14/2024 (MT Newswires) -- KKR (KKR) and Blackstone (BX) are among financial firms discussing a strategy to limit possible penalties by the US Securities and Exchange Commission over disappearing messaging app communications, Bloomberg reported Thursday.

The goal is to minimize any fines and to ensure that if a settlement is reached, no firm is singled out for a harsher penalty, the report said, citing people familiar with the discussions.

The SEC has launched an investigation into whether financial firms have failed to preserve work texts sent by dealmakers and executives on their personal devices and messaging apps, which are needed in investigating securities crimes, the report said.

Representatives for KKR, Blackstone, and the SEC declined to comment, according to the report.

Neither KKR, Blackstone nor the SEC immediately responded to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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