NASD Endorses IM Broker Record Logging
STP AND OPERATIONS
NEW YORK--The NASD has clarified to its 5,300 members that instant messages (IMs) are covered by its broker records retention rules, requiring that they store messages for three years--a step also taken by the NYSE.
Vendors have accordingly turned up the volume on their pitches to firms struggling with technology decisions related to electronic communications compliance.
The Securities & Exchange Commission (SEC) doesn’t actually mandate a particular technology for storing electronic
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