While the use of email continues to grow, newer forms of messaging and interaction are expanding far faster. Instant messaging, texting, and social networking sites such as Facebook or LinkedIn are rapidly multiplying the ways individuals connect. In the securities industry, they are also providing new ways to interact with customers-and therein lies a problem.

The new communication technologies "will challenge your ability to ensure compliance with regulatory requirements," Rick Ketchum, chairman and CEO of the Financial Industry Regulatory Authority (FINRA), told an October 27 meeting of industry executives. "They raise new regulatory challenges."

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