It can be costly to hold on to information that is obsolete, expired, either legal, regulatory, and not needed for or business reasons. An organization must determine what needs to be saved (meaning, it can identify what can be disposed). Policies can be developed that include both the business justification and process for deleting electronic documents, and establish consistent, repeatable, defensible processes that allow for the routine deletion of data not under a legal hold.
Deleting emails and files is a type of initiative that looks easy at the outset but become difficult. Emails and files are retained, and month after month, can quickly year after year they accumulate creating digital layers called information horizons. These information horizons contain a little bit of everything: records, non-records, copies containing high-value value information, personal information, intellectual property, and even documents subject to legal hold.
Organization’s records retention schedules need to be synchronized with assurance current and emerging privacy laws . Records retention laws and regulations may require companies to retain records for a certain number of years, driven by literally thousands of record retention regulations. These requirements may override consumer deletion requests of their personal information.
In development or update of a records program it may appear that once a company has its policies and processes, roadmap, tools, and technology in place, some may believe they are done. However, here is still a critical task remaining: employee behavior change management.
The US Consumer Financial Protection Bureau (CFPB) spent the summer of 2022 acting on several significant regulatory activities. This resource examines those activities in light of the October 17, 2022, US Court of Appeals for the Fifth Circuit ruling that the funding mechanism for the CFPB was unconstitutional. On November 14, 2022, the CFPB petitioned the US Supreme Court to overturn the Fifth Circuit’s decision. The CFPB asked the Supreme Court to consider the petition at its January 6, 2023, conference and hear the case during its April 2023 session.
Cryptocurrency has quickly gone from a fad to being the subject of consideration as a central bank digital currency by many governments. This resource examines the legal considerations for cryptocurrency transactions and creating NFTs.
The Economic Crime (Transparency and Enforcement) Act 2022 (“ECTEA”) was expedited into law as a result of the Russia/Ukraine conflict to “crack down” on overseas entities that are using United Kingdom property to launder money. This article explores the sanctions for non-compliance with ECTEA namely, non-compliance with the requirements for the new Register of Overseas Entities (the “Register”).
Learn about key trends and considerations around ESG policies in business supply chains.
Learn about certain provisions of Quebec's privacy protection act which come into force September 22, 2022 and a chcklist for organizations to prepare for compliance on governance, breach response, and with commercial transactions.
This Top Ten article discusses government enforcement-related updates impacting the health care industry in the United States.