Electronic communications encompass much more than just e-mail in this day and age. Employees use a variety of options to communicate on the job, whether they are sitting at their desks inside the office, sharing information remotely via the Web or accessing messages on the go with a mobile device. E-communications include instant messaging, text messaging, blogs, Web meetings, podcasts and e-faxes. If financial services employees are using these modes of communication for business purposes, they must adhere to applicable federal securities and self-regulatory organization rules.
The Financial Industry Regulatory Authority (Finra) issued final guidance on the proper review and supervision of electronic communications--Regulatory Notice 07-59--in December to help member firms comply with pertinent laws and regulations. While the guidance does not mandate any hard-and-fast rules, it does present principles that member firms should consider when establishing supervisory policies and procedures to ensure the proper handling of such communications.
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