US lawmakers effort to block companies monitoring it's employee's personal Facebook and Twitter accounts has irked a new party- The securities regulators and now it's war between the combined force of Wall Street companies and the regulator against privacy loving employees mainly from investment baking firms and other financial services.

The unlikely alliance of regulators and industry groups is seeking to carve out exemptions in state laws that would allow certain financial firms to sidestep bans on looking at the personal social-media accounts of employees.

Wall Street's self-regulator, the Financial Industry Regulatory Authority, says financial firms need a way to follow up on "red flags" suggesting misuse of a personal account, according to an industry insider.   As of now The Financial Industry Regulatory Authority (FINRA)  has asked lawmakers in about 10 states to make changes to proposed legislation, the sources added.

(Jyotishman)