03:57 PM EST, 12/06/2024 (MT Newswires) -- UBS Group's ( UBS ) Credit Suisse unit is under scrutiny as the UK Financial Conduct Authority examines allegations that former employees shared confidential and market-sensitive information via WhatsApp, Reuters reported Friday, citing documents.

The FCA has been assessing the actions of staff in Credit Suisse's London research unit during mid-2022 to early 2023 with claims involving business communications on personal devices, unauthorized recordings of company executives and the use of disappearing messages, the report said.

The FCA has been gathering evidence since February 2023 and may open a investigation if sufficient proof is found, the report said.

UBS, which acquired Credit Suisse in 2023, stated it is unaware of any investigation and emphasized its policies on electronic communications, the report said.

UBS and the FCA didn't immediately respond to requests for comment from MT Newswires.

(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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