Pugh: Data Disposal Strategy Needed
FINANCIAL PRIVACY—U.S.February 18, 2011
In Wall Street & Technology, Harry Pugh explores the challenges the finance sector faces in satisfying privacy regulations, noting that, "adhering to the letter and spirit of the Dodd-Frank Act requires financial services firms to do a far better job of knowing what information they have and where it is." And, while the disposal of information also creates potential concerns, he writes that it is essential "to develop a practical strategy for disposing of the mountains of information that have no legal obligation, regulatory requirement or business value" that sometimes account for as much as 50 percent of stored data. Pugh recommends tips for "achieving defensible disposal" and advocates C-Suite support for information governance processes.