As companies like Google, Microsoft, Apple, and Research in Motion continue to make connecting employee-owned smartphones to the enterprise easier, the need for increased data security and compliance becomes critical. This need is amplified if your industry is regulated, like financial services or pharmaceuticals, where the archiving of business communications is compulsory. Where do mobile text messages (in the SMS or PIN format), IMs (instant messages or BlackBerry messages),and other forms of communication sent and received by smartphones come into play when planning regulatory compliance and business security and business risk management?
The need for archiveing mobile messages and communications is most clear in the financial services industry in the U.S. SEC Rule 17a-4 which mandates that securities brokers, dealers and members of national securities exchanges maintain records of their transactions and business dealings and that those records be preserved for a minimum of six years, the first two years in an “easily accessible place.” The affected records are broad and encompass communications generated and received by individuals within financial institutions,including inter-office memoranda and internal audit working papers, as well as automated messages sent to all customers such as email blasts. Indeed, in a recent administrative action, the SEC found that an investment firm willfully violated Rule 17a-4 because “it failed to preserve for three years certain communications related to its business as such, including text messages and instant messages”.
Other regulated industries include pharmaceuticals. Pharma firms are regulated by the FDA and other self-regulating industry organizations that have guidelines to help assure that promotional materials used by such firms, as well as communications between representatives of such firms and doctors and healthcare professionals, are accurate, fairly balanced, and limited to information that has been approved by the FDA as well as other standards. Many pharmaceutical firms want to enable their field sales force to use SMS and BBM with doctors and other customers, but feel the need to monitor such messaging to ensure they are staying in compliance with existing regulations.
