FSA dismisses need for special instant messaging rules

The Financial Services Authority, the UK regulator, has said it will not introduce US-style legislation to cover instant messaging, despite fears that traders may use the technology to communicate sensitive information which cannot be traced.

A spokesman for the FSA said: "We don't set about making rules every time a new bit of technology comes out. Our concern is with the actual business practice, rather than the technology used to do it.

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