WORM Format

WORM Format Finally Becoming Obsolete?: Information Governance Trends

See what I did there? 😉 It’s about time! Jim Gill of Hanzo asks whether a change in SEC recordkeeping requirement will make WORM format obsolete.

In the article (Will Change in SEC Recordkeeping Requirement Make WORM format Obsolete?, available here), Jim discusses how, in a recent update to Rule 17a-4, the Securities Exchange Commission (SEC) stepped fully into the 21st century by dropping the requirement that electronic records be stored in a “write once, read many” or WORM format. Instead, broker-dealers can opt to continue using WORM format systems or use dynamic recordkeeping technology that provides an audit trail.

What is WORM?

WORM stands for “Write once, read many”, which is just as the name implies. It’s a way of storing data and preserving records in a non-rewriteable, non-erasable format. Remember the days of burning CDs? The CD-R was a WORM format. You could store data on it once, and access it as much as you’d like, but it couldn’t be changed or overwritten.

So, why is the SEC finally making this change? And what are the new requirements for the audit trail alternative? You’ll have to read his blog post here to find out! It’s just one more click!

So, what do you think? Do you still store electronic records in CD or another WORM format? And how many faxes do you get these days? 😉 Please share any comments you might have or if you’d like to know more about a particular topic.

Disclosure: Hanzo is an Educational Partner and sponsor of eDiscovery Today

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Disclaimer: The views represented herein are exclusively the views of the author, and do not necessarily represent the views held by my employer, my partners or my clients. eDiscovery Today is made available solely for educational purposes to provide general information about general eDiscovery principles and not to provide specific legal advice applicable to any particular circumstance. eDiscovery Today should not be used as a substitute for competent legal advice from a lawyer you have retained and who has agreed to represent you.

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