FCA fines investment banker for boasting about fees earned over WhatsApp

Fined £37k

Daniel Flynn
clock • 1 min read

The Financial Conduct Authority (FCA) has fined a former investment banking managing director more than £37,000 for sharing confidential client information, including fees charged, over WhatsApp.

The FCA fined Christopher Niehaus, formerly a managing director in the investment banking division at Jefferies International, £37,198 after finding he had failed to act with due skill, care, and diligence. Niehaus shared client confidential information including details about competitors via mobile messaging application WhatsApp with both a personal acquaintance and a friend on a number of occasions between 24 January and 16 May 2016. FCA charges five in £2.8m investment scheme scandal According to the FCA, Niehaus shared the information - which included the identity of the client...

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