Most traders I dealt with want to do it on personal cell phone so they can keep contacts as they move around. Most of them are like salespeople, they know exactly how much money they bring in and successful ones refuse to do anything that will impede THEIR method of working. SEC Fines, Regulations? Those are for less successful people.
EDIT: There was another post calling them divas, alot of them act that way.
Yes it does. They convince the traders to let them install MDM and take over the phone, WhatsApp/Telegram/Signal still works, the business gets the records and if they leave the trading firm, the phone gets wiped but traders can just reinstall Store versions, log back in and everything is back.
What other ways are there that don't involve WhatsApp's Google Drive backup feature or scraping the web interface?