Posts Tagged ‘records retention’
More Dreary News on Messaging Apps
A new survey of compliance officers finds most of them with grave doubts about their company’s ability to police against employees’ improper use of messaging apps, and are enacting bans mostly as gestures to demonstrate their effort at compliance obligations — but few believe such bans actually work. So says a report from Global Relay,…
Read MoreJP Morgan Pays $200M on Recordkeeping Failures
JP Morgan has agreed to pay $200 million to securities regulators for “widespread and longstanding failures” to preserve employee communications in the bank’s broker-dealer unit, where bankers routinely talked shop using WhatsApp, personal email accounts, and text messages on personal devices. The bank will pay $125 million to the Securities and Exchange Commission, the agency’s …
Read MoreBetter Compliance Strategies for Email Risk
Harvey Pitt, a former chairman of the Securities and Exchange Commission, had a pithy observation about corporate compliance called the Pitt Rule of Discovery: “A document necessary for a company’s defense shall not be found when needed, unless the document actually makes the company’s situation worse—in which case, said document will be discovered at the…
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