Why You Should Read This White Paper - Securities traders, banks, investment advisors and others in the finacial services industry have long embraced new communication tools. Email, for example, and more recently instant messaging can provide individuals within these firms with a distinct competitive advantage by providing information more quickly and allowing them to make more well-informed decisions. Regulators, such as the Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA), the Financial Services Authority (FSA) and others have established regulations regarding the appropriate use and management of content using these tools.
However, there are significant risks associated with improper use of these technologies. A financial services firm that does not manage its use of these tools properly can put itself at serious risk of non-compliance with governmental and other regulatory authorities resulting in heavy fines; it can seriously damage its reputation; and it can lose customers. Add to all of this the fact that the current recession - and its underlying causes - are giving regulators around the world more reason to focus heavily on governance of financial institutions at every level.
