Dropping Anchor Under the Waterfall

Legal and Policy Challenges of the Social Data Deluge

Christopher Gatewood@gatewood5000

www.thresholdcounsel.com

ARMA and AIIM March 13, 2013

Social Media Records

1.Do we have to save this?

2.What risks are we talking about?

3.A little bit of how-to

Retention obligations

• Record retention compliance

• Tax and audit

• Public companies

• Regulations

• Own policies

• Litigation holds

Why save?

One example:FINRA, record keeping in the financial broker-dealer business.

Every firm that intends to communicate, or permit its associated persons to communicate, through social media sites must first ensure that it can retain records of those communications as required by Rules 17a-3 ad 17a-4 under the Securities Exchange Act of 1934 and NASD Rule 3110.

Money

Work

• Employment

• Securities

• Privacy

• Defamation

• Advertising

What risks?

Pick a vendor

• SocialSafe

• Backupify

• Datacastle

• many others

How to save

• Include social data in records policies

• Create social media policies (and train)

Policies and Implementation