Fairwords Weekly: Managing Communications Compliance, Program Effectiveness, and Compliance in the Metaverse
January 26, 2023
“Financial service providers can build trust while protecting themselves from risk by providing secure and compliant mobile communication options, staying transparent about security measures, and being flexible and responsive to changing client needs.”
This week, learn three considerations for managing communications compliance and steps employers should proactively take that will allow access to business communications later when needed. Consider what process companies need to take to achieve and have a highly effective compliance program. Lastly, we explore questions companies should think about regarding compliance in metaverse communications.
The U.S. Department of Justice (DOJ) has raised concerns about companies failing to preserve business-related communications properly. According to the DOJ, personal devices and messaging apps increase “corporate compliance risks, particularly as to the ability of companies to monitor the use of such devices for misconduct and to recover relevant data during a subsequent investigation.” Compliance with communication-preservation requirements will become even more complicated in the metaverse. After all, 20 minutes in the metaverse generates 2 million (albeit nonverbal) data points. Most legal requirements for the preservation of records, and most government subpoenas for them, define terms such as “communications,” “records,” and “information” exceedingly broadly. Explore some questions companies should be considering for employee communications in the metaverse.