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Zantaz, Inc., has announced that its industry leading Digital Safe service enables financial services firms to comply with the new NASD rule that requires instant messages to be retained for at least three years and supervised, just like email.
The new requirement, detailed by NASD in a notice to its members on June 18, 2003, says "Regardless of the informality of instant messaging, it is still subject to the same requirements as email communications and members must ensure that their use of instant messaging is consistent with their basic supervisory and record keeping obligations." The NASD decision follows a similar directive from a recent New York Stock Exchange...