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How Hedge Fund Managers Can Mitigate the Risks Associated with Employees Communicating Through Messaging Applications
Hedge Fund Legal & Compliance Digest
April 20, 2017
Supervising emails and other business communications has extended beyond the firm’s server for hedge fund managers whose employees frequently communicate, for both personal and business purposes, through text and messaging applications on their mobile devices. While employees can access the firm’s communication networks through SMS text messaging, webmail or proprietary instant message applications on company-issued or personal mobile devices, the devices also offer access to third-party instant message applications, such as iMessage, Snapchat and WhatsApp, whose communications may not be captured by firms’ servers. In this article, partner Holly Weiss talks to Hedge Fund Legal & Compliance Digest about the recordkeeping requirements that apply to private fund managers’ employees’ use of texting and messaging applications, the risks posed by these apps and the solutions to address these risks.
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