Killing Two Birds With One Stone: Optimizing Information Governance for Easier E- Discovery 1
Agenda Presenters The relationship between information governance and e-discovery Sanctions and case law Corporate challenges Information governance and needs by role Practical steps The role of outside counsel Case studies 2
Presenters Jake Frazier, Senior Managing Director, FTI Technology (moderator) Jake assists corporate legal departments and law firms in identifying, evaluating and implementing in-house e-discovery and information governance solutions which produce the largest return on investment and reduce risk. He participated as a founding member of the Electronic Discovery Reference Model (EDRM) and as a member of the Sedona Conference. Jake holds his Juris Doctor from the Arizona State College of Law, and his Master of Business Administration from the University of Texas at Dallas. Michael Lisi, Director of Litigation Support, Fidelity Investments Michael Lisi is currently the Director of Litigation Support at Fidelity Investments, where he developed and advanced the Lit Support team for over six years. During that time, Mr. Lisi project-managed numerous discovery efforts for Litigation and Regulatory matters. Michael now owns the roadmap and implementation for new ediscovery technology, including leading the selection of advanced review platform offerings and refining machine learning workflows. Additionally, Michael assists business units with compliant record keeping for social media and other varied technology initiatives. Prior to joining Fidelity, Michael graduated from Dartmouth College. Rachel Rubenson, Vice President and Global ediscovery Counsel, Barclays Rachel Rubenson is a vice president and Global ediscovery Counsel at Barclays, where she advises the company on legal issues related to electronic data and information management. Her responsibilities include developing the global structure for internal ediscovery operations, setting company practices for the storage, retrieval, processing, and review of electronic data, and overseeing the management of the ediscovery component of Litigation matters. Ms. Rubenson is also the founder and co-chair of Barclays Global Litigation ediscovery Steering Committee. Prior to joining Barclays, Ms. Rubenson was an associate in the complex business litigation group at Ropes & Gray, LLP, where she focused on data security and ediscovery. Joseph Steffan, Chief Privacy Compliance Officer, Morgan Stanley Joe Steffan is an Executive Director in Morgan Stanley s Global Compliance Department, focusing on information management and other technology-related legal and operational issues, including electronic communications and recordkeeping, information security and privacy. He is the current chair of the E-Records and Communications Committee of the Securities Industry and Financial Markets Association. In 2013, he was appointed as Morgan Stanley s first Chief Privacy Compliance Officer, with coordinating and oversight responsibility for compliance aspects the firm s global privacy program. Prior to joining Morgan Stanley, Joe was technology counsel at Lehman Brothers and later appointed its first Director of Technology Compliance. He previously practiced information technology law at firms including Brown Raysman LLP in New York City. He is a 1994 graduate of The University of Connecticut School of Law. 3
How is Information Governance Different Than ediscovery New Matter Hits Information Governance 4 Left side of the EDRM or in-house ediscovery or Lit Hold meaning preservation or Lit Hold meaning notification & workflow
Sanctions & Case Law 5
Corporate Challenges As legal and risk management professionals operate within a world of ongoing business uncertainty, more consideration has been given to potential information risks from litigation; regulations; and the abuse or misuse of information by employees, customers and partners. Moreover, regulatory risks have grabbed the attention of senior executives and corporate boards. Hype Cycle for Legal and Regulatory Information Governance, 2014 French Caldwell 6
Corporate Challenges The average YOY growth rate of corporate data: The cost to store 1 TB of data for one year: The cost to review one GB of data: 40%-60% $3,212 $18,000 Computerworld article: Data Growth Remains IT s Biggest Challenge, Gartner Says by Lucas Mearian, November 2010 IT Key Metrics Data 2014: Key Infrastructure Measures: Storage Analysis: Current Year, by Jamie Guevara, Linda Hall and Eric Stegman, Gartner, December 13, 2013. RAND Study: Where the Money Goes, 2012 The number of companies that will store over 1 Petabyte of data by 2020. This is 100% larger than the printed collection at the Library of Congress: The percentage of all data that will live in or pass through the cloud by 2020: The average cost of a data breach, or about $194 for each compromised record : 100,000 40% $5.5M CSC Study Data Revolution 2011 High Scalability Blog post How Big is a Petabyte, Exabyte, Zettabyte, or a Yottabyte? September 2012 IDC Study: The Digital Universe of Opportunities: Rich Data and the Increasing Value of the Internet of Things, April 2014 IBM and Ponemon Institute Research study: 2014 Cost of Data Breach Study: United States, May 2014 7
Information Governance Model & Needs by Role COO Looks for cost savings by BOTH investment projects, and trading OpEx for CapEx. GC Focused on lit hold and ediscovery spend. Ripe for inhouse consulting. Wants to help with IG but confused as to how. Records Management/ Compliance Often a strong influencer, but struggles obtaining budget. CISO Typically focused on protection of all data, not understanding content. Strong buyer with growing budgets CIO Forced to do more with less. Budgets growing at about 4%, cost of data at about 20%. The perfect leader for large transformational initiatives with ROI based on defensible disposal. Chief Data Officer New executive position in corporations, focused on the IGRM problem writ large Procurement: Don t underestimate procurement as a central source of IG projects i.e. email archiving or Messaging Archiving 8
Corporate Challenges Corporations are increasingly challenged with: Mining corporate data to find and act upon key information quickly Disposing of old or redundant data to reduce storage costs and reduce risk Updating litigation hold, preservation and e-discovery tools and processes for greater efficiency Developing and implementing information governance policies that do not disrupt the business Storing sensitive data, including client information and proprietary intellectual property Migrating data to cloud applications and remediating information within legacy applications Securing proprietary data when employees leave, companies divest, or other similar circumstances Plus, there are few offerings demonstrating tangible business benefits 9
The Role of Outside Counsel Legal holds The role technology plays Costs 10
Case Study #1 Remediating IP upon the Breakup of a Partnership Two high-tech companies were separating from their partnership. FTI Technology worked with internal counsel from both companies to develop and implement an action plan for identifying data for remediation. Prior to any actions, the parties agreed to generate copies of interest to the other party then deleted those documents from the other entity s equipment. Once that process was complete, FTI Technology drafted a certification that outlined the methodologies and steps performed, underscoring those were performed with accuracy and completeness. 11
Case Study #2 12
Thank You 13