Traders forced to save instant messages for three years
Very NASDy indeed
By Adamson Rust: Thursday 19 June 2003, 11:08
A REPORT in today's Wall Street Journal said that regulators of the National Association of Securities Dealers (NASD) will insist that its members keep records of their instant messages for three years.
The NYSE also recently made such a demand.
That move is set to put a very boring cat among the pigeons, we confidently predict.
Because Instant Messaging is an informal and easy way for people to chat, it's popular with people separated by long distances who compare girlfriends/boyfriends, ball games, exchange rumours, describe restaurants they like, boast about their cars, and the rest.
It's also a great time waster. Every time your IM box beeps at you, it's tempting to jump in there and exchange pleasantries and banter, rather than get on with doing your job. Unless you're job is Instant Messaging of course.
We now expect the formerly spontaneous IMs to be preceded with this kind of statement when used by suits.
"This instant message contains forward-looking statements that involve risks, uncertainties and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks, uncertainties and assumptions include the possibility that the market for the sale of certain products and services may not develop as expected; that development and performance of these products and services may not proceed as planned; and other risks that are described from time to time. If any of these risks or uncertainties materializes or any of these assumptions proves incorrect, this IM could differ materially from previous IMs. We assume no obligation to update these forward-looking IMs."
Which kind of destroys the spontaneity a bit, eh? µ
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