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Merrill Lynch Prohibits Third Party Email Use
Citing security concerns and regulatory requirements, Merrill Lynch, the financial services firm, recently announced that it will block its employees from accessing any third-party e-mail providers, effectively banning employees from using such ISPs as Yahoo, AOL and Hotmail for personal e-mail while on the job. E-mail usage by employees will be limited to accounts issued by the company.
A company spokesperson explained the prohibition as necessary to "maintain the integrity" of Merrill Lynch's networks and to ensure that electronic communications are subject to "proper monitoring and surveillance". Merrill Lynch's concern stems from new SEC rules that require that all e-mail and instant messaging communication be accurately archived, and the company had been fined last August for improperly archiving its e-mail. Merrill Lynch is also severely limiting its use of instant messaging at its corporate offices, further to a recent requirement from the National Association of Securities Dealers that financial services firms must save and store all such instant messaging conversations.
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