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Perhaps your organization is already working through these requirements. If you are a consultant or non-publicly traded company, you may not be bound by these regulations - however your clients may be, so this information is critical for anyone in the IT industry.
Regulatory standards affect the broad areas of data privacy, security, retention, protection and accountability. Within these areas, checks and balances act to preserve the information and data. Investigative processes verify the integrity of privacy, security and data protection and audits are required for accountability.
The legal and business requirements protect a company from investigations or consequences but they also help safeguard consumer and patient information. Here's a list of some of the common regulatory compliance laws.
This is by no means a comprehensive or industry specific list but serves as an example of the amount of data regulations that are already in place:
Sarbanes-Oxley Act
Known as SOX, this Act requires company financial executives to be culpable for financial reporting. Independent auditors review financial controls and processes to ensure accurate financial reporting. Controls of records and processes are preserved to prevent fraudulent activities.
Regulatory compliance issues can be really summed up by these simple items: “Keep it, Secure it, and Preserve it.” This can mean extra equipment and IT policies to maintain control over information that users may have previously horded on their machines.
One of the most important aspects to regulatory compliance is the 100% accessibility to the stored data. During data storage disasters, companies that require speed and quality turn to Ontrack Data Recovery for getting access back to regulatory data. In other situations, software that facilitates retrieving data, such as Ontrack® PowerControls™ for Microsoft® Exchange Server, is part of some IT department’s compliance process.
One of the least reported risks to electronic information is storage system failures. What happens when the server you have for compliance fails? How do you cope with a quarter-end financial audit when the business system database becomes corrupt? Who do you turn to when your company is in the middle of an SEC investigation and the electronic message server goes offline? These types of situations happen to corporations everyday. To help minimize this risk, several risk mitigation policies that storage administrators can adopt are outlined below:
When user desktop or laptop computer storage systems fail, do not assume that that their files are backed up, or synchronized, on the file server. At the same time, never assume that the data is completely gone.
Ontrack Data Recovery is the largest, most experienced and technologically advanced provider of data recovery products and services worldwide. Ontrack is able to recover lost or corrupted data from virtually all operating systems and types of storage devices through its do-it-yourself, remote and in-lab capabilities, using its hundreds of proprietary tools and techniques.