November 21, 2014 admin

Trends in Electronic Communication Compliance

Which records do we need to keep, and how long do we have to keep them?

In the past several years, large and small businesses alike have wanted to know which records they need to archive based on regulations and certain policies. Since the 2006 amendments to the Federal Rules of Civil Procedure, the legal literature has extensively covered electronic record retention requirements, with particular scrutiny on retention and retrieval of email. Yet, legal literature often overlooks other forms of electronic records impacted by the 2006 amendments and federal and state regulatory schemes. Voicemails, instant messages, text messages and other forms of alternative communications are electronic records subject to preservation and production by regulatory requirements and for discovery in certain circumstances.

The increasing number of federal and state regulations requiring businesses and local governments to retain text messages, voicemails, instant messages and other forms of alternative electronic communications will lead to more litigation. Businesses throughout the United States need to know the new regulations addressing discovery and retention of electronic communication records. As well as keeping up with the recent changes in regulatory enforcement and the evolving archiving standards.

Perhaps the most extensive and significant electronic record retention requirements are contained in the Dodd-Frank legislation and regulations.Financial institutions must ensure that they have the capability to archive and maintain all types of electronic communications. Therefore, the installation of text message archiving, voicemail archiving, instant messaging archiving, voicecall archiving and email archiving may be necessary.

As consumer technology becomes increasingly present in the corporate environment, a proper information governance strategy is paramount to ensure valuable business information is retained while stale data is purged to reduce legal and regulatory risk exposure

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