IMlogic Helps Hedge Funds with IM Compliance
To help advisers meet new SEC regulations, the company's Quickstart Pack includes a host of tools to help secure, manage and archive all electronic communication, including instant messages.The U.S. Securities and Exchange Commission (SEC) imposed new regulations late last month on private investment pools, also known as hedge funds. The ruling requires that most hedge fund advisers register with the SEC under the Investment Advisers Act of 1940, which includes provisions for securing, managing and archiving all electronic communication, including instant messages. The use of IM in financial trading is widespread, thanks to its real-time communications capabilities in a time-sensitive industry. When theres news that can move markets, traders often zap instant messages to their clients rather than trying to track them down on the phone or send e-mails. A trader also can push an IM out to a group simultaneously rather than trying to juggle multiple phone calls. With IM adoption expected to grow within hedge fund and other financial services firms, compliance officers and IT managers in these organizations will need to manage IM within a comprehensive compliance and archiving framework. Instant messaging communications are specifically included in SEC regulations as a form of electronic communication, and as such must be managed in a way that is consistent with existing e-mail policies.
Click here to read about Microsoft adding voice and video to its IM client.