President Obama made headlines with his decision to become the first sitting president to actively use a smartphone while in office. Under law, the president must comply with the Presidential Records Act, which requires the National Archives to preserve presidential records. All of president Obama's non-personal smartphone communications -- e-mail as well as texts, instant messaging, MMS, WEBmail or BlackBerry PIN-to-PIN messages -- fall under this requirement. In December 2007, Financial Industry Regulatory Authority issued expanded regulations that specifically require securities firms to monitor, control and archive any form of electronic communications, including all forms of wireless messaging. Noncompliance with regulations can put companies at risk for major fines, reputation damage and even imprisonment.
The Future of Wireless Compliance Rafi Kaminer Risk Management; Jun 2009; 56, 5; Docstoc pg. 56 Reproduced with permission of the copyright owner.
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