I am being told that the brokerage industry lives and dies by Instant Messenger, specifically AOL Instant Messenger. That nearly 80% of orders are conducted this way. Management is l aware of archiving requirements, but I question the use of a public internet messaging system for such activity. Does FINRA or SEC allow this? Can someone enlighten me how this is happening?

They don't in our company. We don't have the infrastructure to archive these messages; therefore, they are restricted to Outlook.

You might try searching on the FINRA website for additional guidance.