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Data retention defines the policies of persistent data and records management for meeting legal and business data archival requirements. Although sometimes interchangeable, it is not to be confused with the Data Protection Act 1998 .
SEC Rule 17a-4 is a regulation issued by the U.S. Securities and Exchange Commission pursuant to its regulatory authority under the US Securities Exchange Act of 1934 (Known simply as the "Exchange Act") which outlines requirements for data retention, indexing, and accessibility for companies which deal in the trade or brokering of financial securities such as stocks, bonds, and futures.
A retention period (associated with a retention schedule or retention program) is an aspect of records and information management (RIM) and the records life cycle that identifies the duration of time for which the information should be maintained or "retained", irrespective of format (paper, electronic, or other). Retention periods vary with ...
When data is collected, data subjects must be clearly informed about the extent of data collection, the legal basis for the processing of personal data, how long data is retained, if data is being transferred to a third-party and/or outside the EU, and any automated decision-making that is made on a solely algorithmic basis.
Data retention laws and regulations ask data owners and other service providers to retain extensive records of user activity beyond the time necessary for normal business operations. These requirements have been called into question by privacy rights advocates. [35] Compliance in this area is becoming very difficult.
Data laws are legal requirements concerning the processing of data ... Data retention; Data sovereignty; ... General Personal Data Protection Law; Ghana Internet ...
Retention periods are set by an organization-specific retention schedule based on regulatory, statutory, and legal requirements, business needs, and historical or intrinsic value. Information should be appropriately disposed when it is no longer valuable to protect privacy and confidentiality.
Data holdings are generally the storage methods used in the past when data has been lost due to environmental and other historical disasters. [4] Furthermore, data retention differs from data preservation in the sense that by definition, to retain an object (data) is to hold or keep possession or use of the object. [7]