Social Media That “Disappears” Messages Won’t Go Unregulated

The social media service “Snapchat,” first popular with teenagers, allows users to send text and pictures that disappear in seconds. It reportedly has caught on among Wall Street bankers for social purposes, but wider application would not be a surprise. As technology changes, a basic principle remains intact: Regulated entities need to prohibit or carefully limit the use of any technology that has the potential to circumvent regulatory obligations.