Although records have always been key to successfully navigating business requirements, audits, investigations and enforcement actions, their importance has escalated in recent years. Thanks to emerging technologies, enforcement actions and guidance from U.S. regulators, records management has become increasingly top-of-mind for compliance practitioners, information technology leaders and legal teams alike. The Hedge Fund Law Report asked James Koukios, partner at Morrison & Foerster, about all things records, including off-channel communications, ephemeral messaging applications and best practices companies may want to consider. See “SEC and CFTC Continue to Penalize Firms for Electronic Communications Recordkeeping Violations” (Aug. 17, 2023); as well as our two-part roadmap to maintaining books and records: “Compliance With Applicable Regulations” (Nov. 2, 2017); and “Document Retention and SEC Expectations” (Nov. 9, 2017).