Brokerage Instant Messages Must Be Saved

Posted by simoniker on Wednesday June 18, 2003 @11:09PM from the casual-bathroom-conversations-also dept.

DrEnter writes "According to an AP story on Yahoo!, the National Association of Securities Dealers (NASD) has told its members that they must keep a copy of all instant messages sent or received by employees for at least three years. This is similar to their requirements on keeping e-mail, although technically not nearly as easy. The NASD is a self-regulatory organization, and U.S. federal law requires almost all of the 5,300 U.S.-based securities firms and brokerages to be a member of it. There's a news release from the NASD concerning the requirement - it looks like the daunting technical issues have already resulted in some firms banning the use of IM completely."

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Quit fighting him by BoomerSooner · 2003-06-19 01:40 · Score: 0, Flamebait

He obviously doesn't have a damn clue. Anyone who thinks doing anything that is regulated where one missed message (a la Martha Stewart) causes jail time/fines, is a trivial thing to do is a fool.

Go ahead, bet your billion dollar a year business on logging AIM/MSN messages via a "shell script".