News & Analysis as of

Instant Messaging Apps Data Retention Securities and Exchange Commission (SEC)

Pagefreezer

The Major Microsoft Teams Challenge Stumping Legal & Compliance Teams

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Since 2019, the number of users on Microsoft Teams has risen 1500%, from a modest 20 million users in the pre-pandemic year (2019) to over 320 million users in 2024. Microsoft's collaboration platform is now the default...more

BakerHostetler

Deeper Dive: Preserving Ephemeral Messaging - Capture Data Before Its Ghosts Haunt Your Compliance

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Organizations whose mantra is “We just never delete anything” (i.e., organizations simply retaining all information indefinitely) are now facing headwinds, especially when the information contains personal information. As our...more

Seward & Kissel LLP

Continued SEC Enforcement Actions Relating to Off Channel Communications

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Who may be interested: Registered Investment Advisers, Registered Investment Companies, Compliance Staff - Quick Take: The SEC recently announced a number of additional enforcement actions relating to recordkeeping...more

Proskauer - The Capital Commitment

Mid-Year Enforcement Update: SEC’s Continued Focus on Private Funds in 2024

As we reach the midpoint of 2024, the SEC has maintained its rigorous enforcement stance on the private funds industry, proposing new rules and oversight tools to better identify and investigate market practices. As 2024...more

King & Spalding

Recent Enforcement Trends Regarding the Use of Off-Channel Communications on Personal Devices

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What U.K. Firms Need to Know - INTRODUCTION - Over the past decade, the use of messaging applications, such as WhatsApp, for business purposes as an alternative to traditional email has grown exponentially. Ease of use...more

Alston & Bird

SEC and CFTC Crackdown on Use of Personal Messaging Platforms Raises Compliance Concerns – and Opportunities

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Using personal devices and messaging platforms may be convenient (and ubiquitous), but it may run afoul of federal records retention rules. Our Investment Management, Trading & Markets and White Collar, Government & Internal...more

BakerHostetler

Businesses Must Contemplate Employees' Use of Messaging Apps on Personal Devices

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An investment management company was recently hit with $200 million in fines for failing to track employees’ use of personal messaging apps, which resulted in the loss of communications that were subject to regulatory...more

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