(Bloomberg) -- The Securities and Exchange Commission is finalizing settlements with about two dozen Wall Street firms to resolve probes into lapses in record keeping, Reuters reported.

The settlements are with investment advisers and broker dealers, according to the report, which cited people familiar with the matter. It marks the latest enforcement action in the regulator’s two-year crackdown on Wall Street’s use of WhatsApp and other messaging apps.

Fines tied to unauthorized communications on Wall Street have already topped $2.5 billion.

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Author: Adam Haigh