Wall Street to Pay $1.8 Billion in Fines Over Traders’ Use of Banned Messaging

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

The firms include brokerage units of Bank of America Barclays Citigroup Inc., Credit Suisse Group Deutsche 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.