June 15, 2007
Wall Street gets 'guidance' on mobile devices
A long anticipated report was released this morning by Wall Street's two self-policing organizations, NYSE Regulation and NASD, relative to the ubiquitous use of Blackberrys, cell phones on trading floors. [via Network World Community]
"The 12-page report, pointedly labeled "Joint Guidance," has been two years in the making and is viewed by some as a prelude to possible regulation of mobile devices on Wall Street.
The report seeks public input regarding its contents between now and July 13. Its introduction reads:
Technological innovations in the area of electronic communications have altered how people deliver, receive and store communications. These innovations have brought, and continue to bring, new challenges to members in the establishment of supervisory systems and procedures for electronic communications that are reasonably designed to achieve compliance with applicable federal securities laws and self-regulatory organization rules.
With these challenges in mind, the NYSE and NASD are issuing this guidance for members to consider when developing such systems and procedures."
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