Social Media eDiscovery: Crucial, Even in its Infancy

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Tools are the least of your worries. Federal and other regulations, and internal policies, must be addressed before you buy anything to help automate the situation.

Until late last year, First Command Financial Services' presence on the social Web was pretty much nil: No corporate Facebook pages and no business-related postings by its 400 registered investment advisors (RIAs), although they could have personal accounts.

Last December, that changed. The company launched corporate pages on Facebook, LinkedIn and Twitter and started a blog called "Your Money Matters" on MilitaryTimes.com. By year-end, 50 RIAs will start interacting with clients via Facebook, LinkedIn or Twitter, with 100 more scheduled for next year, according to Katherine Kirkpatrick, First Command's director of social media.

But before all this could happen, a team of compliance, IT, marketing and legal people spent months developing policies and an infrastructure for managing social media usage, surveillance, retention and e-discovery in compliance with stringent federal regulations and internal rules, Kirkpatrick says.

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