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What would happen if they used the auto-delete feature? Like if all messages were auto-deleted after 30 days or something.
by Dig1t 3y ago
What would happen if they used the auto-delete feature?
Like if all messages were auto-deleted after 30 days or something.
- dharmab 3y agoIn the US, the Federal Rules of Civil Procedure require corporations to keep emails from 3-7 years depending on their content, with some emails potentially kept forever. SOX compliance requires 7 years.
- ahmadalli 3y agoTo be compliant with regulations they need to keep the records even if the email is deleted from the user's mailbox
- Barrin92 3y agoThey settle for 1.1 Billion dollars with the regulators. Publicly traded firms are by law obligated to keep a lot of business related communication. https://www.pymnts.com/news/regulation/2022/goldman-sachs-and-15-financial-firms-pay-1-1b-to-settle-sec-whatsapp-probe/ https://www.pymnts.com/news/regulation/2022/goldman-sachs-an...
- granzymes 3y agoBanks are subject to far more stringent record keeping requirements than most other companies. Microsoft is not bound by rules similar to the article you reference. That said, there are some categories of information that Microsoft would have to retain. In particular, once you reasonably anticipate imminent litigation you have a duty to retain related information.
- anonylizard 3y agoBanks are far more stringent... For the rank and file, because even low level employees in banks can access private information that allow them to insider trade. For the CEOs, they were already under intense scrutiny for every single trade, so it makes more different.
- efxhoy 3y agoVery unhappy legal department. Very unhappy owners. Big fines. Publicly traded companies have a lot of rules to follow.
- deleted 3y ago[deleted]
- dataflow 3y agohttps://www.ediscoverylaw.com/2012/07/30/failure-to-disable-auto-delete-and-to-follow-up-with-recipients-of-litigation-hold-results-in-adverse-inference/ https://www.ediscoverylaw.com/2012/07/30/failure-to-disable-...
- DrBenCarson 3y agoThey would be sued for obstruction
- DrBenCarson 3y agoCorporations are required to hang on to communications for N years (depending on their type of business and whether or not they are under consent decree) IMO rules like this are why American corporations are investable. Rule of law is and must be respected.
- psunavy03 3y agoI'm no lawyer, but this is context-dependent. I have worked in companies where all emails not legally required to be retained longer were auto-deleted after 90 days, Zoom was auto-deleted after 24 hours, and getting any kind of persistent chat was an utter ass-pain, all because Legal was paranoid about liability.
- dharmab 3y agoIf the company is public, SOX requires 7 years minimum.
- Mistletoe 3y agoThis is interesting to learn. Are other countries required to do this? I’m always searching for reasons US stocks have outperformed global for quite some time now.
- sgerenser 3y agoHasn’t Google recently been caught doing this (with chat, not email)? “Hey, can we switch to no history?” https://arstechnica.com/tech-policy/2023/03/google-defends-auto-deletion-of-chats-after-us-alleged-it-destroyed-evidence/ https://arstechnica.com/tech-policy/2023/03/google-defends-a...
- samspenc 3y agoAnd Wall Street firms were fined $2 billion for their employees using non-corporate communication methods for trading https://fortune.com/2022/09/27/wall-street-fines-employee-use-of-whatsapp-unauthorized-messaging-apps/ https://fortune.com/2022/09/27/wall-street-fines-employee-us...