White Papers for Gramm Leach Bliley Act (GLBA)

The Impact of the New FR FRCP Amendments on Your Business

Arcmail

The newly adopted amendments to the Federal Rules of Civil Procedure (FRCP) will have a major impact on the way that organizations manage electronic data. However, an Osterman Research survey conducted in December 2006 found that more than one-half of organizations do not understand the new rules well enough to understand the impact that they will have on their data retention practices, while only one in five organizations does not anticipate any sort of change in their corporate behavior in response to the
changes. Further, another survey found that only seven percent of corporate counsel attorneys rated their
companies as prepared for the new amendments, while more than one-half were not even aware that the new amendments were to go into effect on December 1, 20061.
The next several months will ill present significant challenges to organizations of all sizes on several levels ls: corporate legal counsel will ill need to learn what impact the FRCP changes will have on their organizations, IT managers will wrestle with the potentially significant investments in technology that will ll
be required to adequately preserve electronic data, and senior managers will ill need to evaluate and improve their corporate governance policies and procedures to meet the new requirements.

This is white paper focuses on the new FRCP amendments and the impact that they will have on organizations of all sizes.

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