I moved from an HFT firm to Google. The attitude difference with respect to document holds was hilarious. At the HFT firm, the attitude was, "we're constantly being sued (by the SEC and others), so we treat all of our records like they're under litigation holds, just in case the SEC claims they wanted them, even the off-topic slack channels." At Google, the attitude was, "we're constantly getting sued, so we treat al…
Finance is default not trusted. If documents are missing, fraud is presumed. Tech doesn’t seem to have reached that point just yet.
Many of them contain various personal data of clients and/or employees, legal makes us specify for how long each service needs to hold on to it, and purge as soon as possible to minimize chance of leaks.