SEC asks big hedge funds for employee phone review

SEC asks big hedge funds for employee phone review

FILE PHOTO: The U.S. Securities and Exchange Commission logo adorns an office door at the SEC headquarters in Washington, June 24, 2011. REUTERS/Jonathan Ernst

The US Securities and Exchange Commission has asked some major hedge funds to review certain employees’ personal mobile phones for evidence of business dealings on unapproved channels, Bloomberg News reported on Thursday.

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