It's The Law

Recognizing a need to encourage discovery practices that are fair to all stakeholders, accountability for compliance at a Board level, and acceptance of a revolution in Electronically Stored Information (ESI), the United States (US) and European Union (EU) have raised the legal bar. The result: more litigation, regulations and disputes over compliance, discovery and financial transparency in the last 5 years than the previous 20 years. European companies operating in the US may be subject to US regulations and vice versa.

• Sarbanes-Oxley Act (SOX) (2002) - Corporate disclosure and governance Corporations have a responsibility to accurately report not only their financial records and forecast, but also the auditing processes and systems used to generate the report. Responsibility flows directly to the Board of Directors to ensure complete transparency.
• HIPAA (2004) - Health Insurance Portability and Accountability Act Disclosure in the interest of public health and/or in the face of "subpoena, discovery request or other lawful process"
• Federal Rules of Civil Procedure (amended as of 2006) – Amended federal rules governing and expanding the materials eligible / necessary for retention and discovery
• MiFID (2007) - Disclosure creating financial transparency