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Public companies are required by law to retain email for 7 years I believe.
by tracerbulletx 3y ago
Public companies are required by law to retain email for 7 years I believe.
- tambourine_man 3y agoThat would explain it. But then again, why not use Signal or something similar for sensitive topics.
- samspenc 3y agoSeveral employees of the world's largest banks actually tried this. Result? Almost $2 billion in fines. https://www.wsj.com/articles/wall-street-to-pay-1-8-billion-in-fines-over-traders-use-of-banned-messaging-apps-11664311392 https://www.wsj.com/articles/wall-street-to-pay-1-8-billion-...
- tambourine_man 3y agoThat’s interesting, thanks. Article is paywalled, but how can it be proved they’re using something like Signal? There must be at least some discussion available to be disclosured on request by law? How do they define if the subject is relevant enough to require a formal exchange between executives? The world of big public companies is fascinating.
- asveikau 3y agoI have to imagine any requirements on email retention would apply to signal too, and that your phone with its local plaintext database can be subpoenaed. The threat model for signal is not to get you out of your legal obligation to comply with court orders.
- Golden_Wind123 3y agoI don't understand? As long as someone has the relevant decrypted message chain it can be subpoenaed.
- maximilianroos 3y agoBased on what?
- tracerbulletx 3y agohttps://www.sec.gov/rules/final/33-8180.htm https://www.sec.gov/rules/final/33-8180.htm
- maximilianroos 3y agoThis is exclusively about audits
- RandomBK 3y agoThe aforementioned Sarbanes-Oxley act, plus the principle of "negative inference" in civil suits which dictates that a court can infer that someone refusing to testify (or destroying evidence) has something to hide. There's no 'plead the 5th' in civil suits.
- JumpCrisscross 3y ago> Public companies are required by law to retain email for 7 years I believe Public companies have to keep audit-related communications, but not something like this [1]. It comes more from civil litigation, where the standard of proof is the preponderance of evidence. If I sue you and produce partial records, and you say you deleted everything, that can be used against you. [1] https://www.intradyn.com/email-retention-laws/ https://www.intradyn.com/email-retention-laws/