Wall Street Blocks IM Traffic

from the brilliant dept

Well, once again fear of legal issues is hurting a good technology. Many banking firms are banning the use of instant messaging software, because they’re afraid of what the SEC might say. Apparently, they fear that IM’s will be considered the equivalent of emails, and the fact that they’re not stored and reviewed will open them up to legal liability. So, instead of using a communications tool that probably helps them stay more connected, many banks are just banning the software outright.

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