In the evolving landscape of corporate communications, the intersection of personal devices and messaging platforms can pose significant challenges for in-house counsel, as an article on JDSupra, Personal Devices and Messaging Platforms in the Workplace: Tips, Tactics and Best Practices for In-House Counsel, illustrates. With employees increasingly using their own devices and personal messaging platforms for business communications, maintaining proper records and compliance can become a complex task.
In 2022 alone, the Securities and Exchange Commission (SEC) charged 15 broker-dealers and an affiliated investment advisor due to widespread and longstanding failures by employees to maintain and preserve their communications from 2018 to 2021. Such actions underline the renewed attention that federal regulators are giving to the use of text messages and messaging platforms in a corporate legal environment. Given the regulatory authority’s power to issue significant fines and sanctions, legal departments within corporations need to be vigilant and proactive in fostering a culture of compliance.
A few best practices to ensure compliance can include clear policies around the use of personal devices and messaging platforms for business communications. Such policies should specify the acceptable use of these platforms, methods for preserving necessary communication records and clear guidelines on data privacy and information security. Regular training and education sessions for employees about these protocols can further aid in the mitigation of potential risks.
Looking ahead, the ongoing developments in this area of law necessitate that in-house counsel keep themselves updated with emerging trends and evolutions in regulatory norms, so as to ensure ongoing corporate compliance and to proactively safeguard against potential violations.
For more details and insights, legal professionals can turn to the original article on JDSupra.