By Jim Hu, 8 August 2003 11:06
NEWS Merrill Lynch will today launch a total crackdown on access to outside email services from popular sites such as AOL, Yahoo! and MSN, in response to regulatory requirements and to protect its network from viruses, according to a company memo. The policy shift will affect the 48,000 Merrill Lynch employees worldwide who use the company's internet network. A Merrill Lynch representative said the policy is an extension of existing bans in departments such as the trading desk. Other investment banks, such as Goldman Sachs, have similar company-wide policies. A copy of the memo, forwarded to silicon.com's sister site, News.com said: "We believe it is appropriate for that policy to be extended throughout the firm, without exception, to help ensure that electronic communications to and from Merrill Lynch facilities are subject to proper monitoring and surveillance." The policy will also affect access to outside message boards, chat rooms and forums, and any access to accounts from ISPs. Representatives from AOL, MSN and Yahoo declined to comment. The move by Merrill Lynch is not unprecedented; other major corporations, especially those in financial services, are reining in access to outside web and internet services. Investment banks and brokerage houses have taken steps to control instant messaging applications from AOL, MSN and Yahoo! as well. Jim Hu writes for News.com
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