Is iMessage or WhatsApp FINRA Compliant?

Financial professionals often rely on familiar messaging apps like iMessage and WhatsApp to stay connected. But when it comes to regulatory compliance, especially under FINRA rules, these platforms fall short.

FINRA requires that all business-related communication, including text messages, be archived and supervised. Under FINRA Rule 4511 and SEC Rule 17a‑4, firms must preserve communications that relate to client interactions, trade recommendations, or any form of investment advice. These messages must also be accessible for audit and review.

iMessage and WhatsApp are not built for compliance. They do not provide built-in archiving, administrative oversight, or exportable records that firms can use to meet FINRA requirements. Messages sent through these apps are typically encrypted and stored locally, making them nearly impossible to supervise or retrieve for regulatory purposes.

Using these platforms for client communication can expose firms to serious risk, including fines or disciplinary action. Regulators have already penalized multiple firms for “off-channel” communications taking place over personal devices and apps like WhatsApp.

For compliant texting, financial firms need a solution designed for their regulatory environment. Tools like iPlum offer encrypted messaging with archiving, admin controls, and audit-readiness. That ensures advisors can communicate securely while meeting FINRA and SEC standards.

Bottom line: iMessage and WhatsApp are not FINRA-compliant. If you are in financial services, using them for business texting puts you at risk. Use a compliant communication platform instead.