Brokerage Instant Messages Must Be Saved

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."

But why???

[jkrise]

Can't they simply use Echelon instead??

Re:daunting technical issues?

[sosume]

1) Start National Association of Securities Dealers (NASD)
2) Oblige members to save instant messages
3) ???
4) Profit!!!

Instant message : Sell SCO!!

[jkrise]

Hey brokers! Sell SCO! Sell SCO!! Sell SCO!!! Sell SCO!!!! Sell SCO!!!!! Sell SCO !!!!!!

Got the message?

Okay.. now log all you want.

Boom Town

[Deton8]

These new data retention laws are a boon to those of us in the data storage industry. If this keeps up I'm going to name my new yacht after the dude at the SEC (although "Cunt" is probably already taken).

Re:daunting technical issues?

[blibbleblobble]

"Imagine a company with 500 000 machines..."

If you have 500,000 machines running Windows, this will be the least of your problems.

Re:What's the value?

[Anonymous Coward]

Yup. This is just another case of loudmouth Slashdot geeks blindly spouting about a seeming "security" violation.