Save your instant messages, NASD says.

• Author: Swartz, Nikki
• Position: Up front: news, trends & analysis - National Association of Securities Dealers - Brief Article

The National Association of Securities Dealers (NASD) recently told brokerage firms to monitor employees' instant messaging (IM) use the same way they do e-mail and written correspondence. In addition, it advised companies to retain copies of all instant messages between brokers and customers for at least three years, as is required for e-mail.

Unlike e-mail, the popular IM communication technology allows users to exchange messages in real-time. Financial firms have been early adopters of corporate IM products that offer archiving capabilities, but consumer IM products currently do not...