(Bloomberg) — In this open-ended era of working from home, the financial industry is taking unprecedented steps to police bankers and prevent wrongdoing.
Traders at firms like Barclays Plc must certify they work in separate rooms to housemates. Morgan Stanley bankers are using laptops where every key stroke is recorded. Lenders including NatWest Group Plc are requiring daily location updates from traders and recording video calls.
With fresh lockdowns sweeping Europe this weekend, including Londoners being banned from mixing with other households indoors and Parisians under curfew, such remote monitoring seems here for the long haul.
The pandemic has already forced compliance officials at banks and trading firms to navigate a steep learning curve since March when they cobbled together a patchwork of measures for the first government-mandated lockdowns. Regulators, who early on had to relax some monitoring rules to enable traders to work from home, now expect