November 2008 Archives
There is no question that the current economic uncertainty will continue to impact organizations on a global scale for some time to come and every organization is taking a much harder look at their IT budgets for 2009. Gartner notes that the projected IT budgets in 2009 will increase a meager 2.3 percent, down from the earlier projection of 5.8 while IDC has slashed how much it forecasts US IT budgets to grow to below 1% growth for 2009. But just because IT budgets for 2009 are getting cut does not mean the government is going to cut companies any slack in regards to meeting new compliance requests or giving them more time to satisfy them. (read more)
When President Bush signed S.2550 into law on September 19, 2008, the Federal Rule of Evidence (FRE) 502 went into immediate effect. This law brought much needed clarity to section 26(b) (5) (b) of the Federal Rules of Civil Procedure (FRCP). When the FRCP was amended in 2006, the addition of 26(b) (5) (b) was recognition that the sheer volume of documents in an eDiscovery request would lend itself to the accidental disclosures of data that could jeopardize the attorney-client privilege. Attorney-Client privilege is quite simply a court recognized protection of communications between a client and their attorney. This protection is designed to allow open and honest communication between clients and attorney's so as to aid in the legal process. (read more)
Today's financial crisis is not the first one to occur and likely will not be the last. However like previous stock market crashes, such as in 1929, we can expect to see new legislation take effect. Out of the crash of 1929 came the passage of the Securities Act in 1933 and the Securities Exchange Act in 1934 which ultimately resulted in the establishment of the Securities and Exchange Commission (SEC) in 1934. Since then, the SEC has been actively involved in making changes of the financial regulatory system anytime financial crisis occur and it is safe to say this one will be no exception. (read more)
