Electronic Communications: Current Technological Landscape and Relevant Regulatory Measures

Remote working during the COVID-19 pandemic accelerated use of messaging applications and platforms in business communications, and regulators’ interest in ensuring firms’ compliance with recordkeeping and supervisory obligations from electronic communications may be poised to rise, making this a good time for CCOs and other compliance officers to review their firms’ electronic communications policies and ensure they account for new technologies. This first article in a three-part series originally published by our sister publication Private Equity Law Report sets out the regulatory framework for electronic business communications and delves into how and why managers are facing a seismic shift in the way their employees and clients communicate. The second article will offer practical advice on ways CCOs can prepare policies and procedures, as well as training tactics, to ensure proper practices by their employees. The third article will provide tips for using third parties to capture and archive electronic communications, ways to mitigate risks associated with social media, and guidance on satisfying document requests. See “Report on CCO Liability Calls for More Regulatory Cooperation” (Apr. 15, 2020).

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