Crafting Effective Mobile Device Policies to Satisfy Regulatory Expectations

Government authorities expect companies to have appropriate controls over communications sent through text and messaging apps. In recent years, U.S. regulators – including, most notably, the SEC – have imposed billions of dollars in penalties on financial services firms for failing to maintain records of electronic communications in accordance with the federal securities laws. Even organizations that are not subject to specific record retention requirements may find themselves at a disadvantage if they cannot produce relevant employee communications in connection with a government investigation. This article synthesizes insights offered by Miller & Chevalier attorneys in a recent Practising Law Institute program about government expectations around companies’ management of mobile device communications, and how companies can craft and implement effective mobile device policies. See “SEC Brings First Enforcement Action Against a Stand‑Alone Investment Adviser for Off‑Channel Communication Violations” (May 30, 2024); and “Latest SEC Sweep of Off‑Channel Communications Both Befuddles and Turns Up the Heat on Investment Advisers” (Mar. 21, 2024).

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