HSBC disables text functions on staff phones as regulators probe unauthorised communications

HSBC has been fined £57.4m by the Bank of England for "serious failings" over its measures to protect customer deposits.

HSBC is disabling texts on its staff’s work phones, following regulatory investigations into unauthorised business communications.

That is according to Bloomberg News, who said bank employees will be unable to send or receive text messages on company-issued phones, the report said.