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A Records Retention Policy sets clear rules for how long your organization keeps different types of documents and when to dispose of them. In Switzerland, these policies help companies comply with strict data protection laws and meet specific requirements from regulators like FINMA for financial records or HIPAA for medical data.

The policy protects your organization by establishing which records to preserve (like tax documents for 10 years under Swiss law), and when to safely delete outdated information. It guides employees on proper document handling, helps prevent legal issues, and ensures sensitive data doesn't fall into the wrong hands while saving storage costs and maintaining efficient operations.

A Records Retention Policy becomes essential when your organization handles sensitive data or faces Swiss regulatory requirements. Financial institutions need it to meet FINMA's documentation rules, healthcare providers use it for patient records management, and any business processing personal data must follow Switzerland's Federal Act on Data Protection.

Use this policy when expanding operations, during digital transformation projects, or after regulatory changes affect your document handling requirements. It's particularly valuable during audits, when merging with other companies, or if you're streamlining storage systems to cut costs while maintaining legal compliance. Having it ready before data-related incidents helps prevent costly mistakes and legal complications.

• Contract Retention Policy: Focuses specifically on managing contractual documents under Swiss law, including storage periods for different agreement types, digital archiving requirements, and disposal procedures aligned with OR/CO requirements.
• Industry-Specific Policies: Tailored versions for sectors like banking (meeting FINMA requirements), healthcare (patient records), or manufacturing (technical documentation).
• Comprehensive Enterprise Policies: Cover all document types across departments, including HR files, financial records, and operational data.
• Digital-First Policies: Specialized for organizations managing primarily electronic records, addressing e-signature retention and cloud storage compliance.

• Legal and Compliance Teams: Draft and maintain the Records Retention Policy, ensuring it aligns with Swiss data protection laws, FINMA regulations, and industry standards.
• Department Managers: Implement policy guidelines within their teams, monitor compliance, and coordinate with IT for proper document storage.
• IT Administrators: Set up digital storage systems, manage access controls, and execute automated retention schedules.
• External Auditors: Review policy implementation during compliance audits and recommend updates based on regulatory changes.
• All Employees: Follow document handling procedures, properly classify records, and adhere to retention schedules in daily operations.

• Document Inventory: List all record types your organization handles, from contracts to employee files, noting current storage locations and formats.
• Legal Requirements: Review Swiss retention periods (e.g., 10 years for business records under OR/CO) and FINMA guidelines for your industry.
• Storage Assessment: Map out your physical and digital storage capabilities, security measures, and access controls.
• Stakeholder Input: Gather feedback from department heads about operational needs and current document handling practices.
• Policy Generation: Use our platform to create a customized, legally-compliant policy that automatically includes all required elements and retention periods.

• Scope Statement: Define which documents and data types are covered, aligned with Swiss Federal Act on Data Protection requirements.
• Retention Periods: Specify storage durations for each document category, matching Swiss legal minimums (e.g., 10-year requirement for business records).
• Storage Methods: Detail compliant physical and digital archiving procedures, including security measures.
• Disposal Procedures: Outline secure destruction methods for both physical and electronic records.
• Roles and Responsibilities: Assign oversight duties and compliance monitoring tasks to specific positions.
• Legal References: Include relevant Swiss laws, FINMA regulations, and industry-specific requirements.

While Records Retention Policy and Data Retention Policy sound similar, they serve distinct purposes in Swiss business operations. A Records Retention Policy covers all business documents, including physical records, contracts, and correspondence. In contrast, a Data Retention Policy specifically addresses digital information and personal data handling under Swiss data protection laws.

• Scope of Coverage: Records Retention covers all business documentation, while Data Retention focuses exclusively on electronic data and digital information systems.
• Legal Framework: Records Retention aligns with Swiss Code of Obligations for business records, while Data Retention primarily follows FADP requirements and GDPR compatibility.
• Implementation Focus: Records Retention emphasizes physical storage, archiving methods, and document lifecycle management. Data Retention concentrates on digital storage, encryption, and automated deletion processes.
• Department Oversight: Records Retention typically falls under general administration, while Data Retention is usually managed by IT and data protection officers.