While log management is essential from the security point of view of your system and networking, it is also a legal requirement in view of the existing laws of the land. Log management helps to maintain the records in details for an appropriate time span. They give you information on the violations of policies, activities that are fraudulent and various operational problems. In the process you also get problem solutions. Such logs are useful for analysis too for identifying the market trends and finding and resolving long term problems. 

Apart from the enterprise security management the log management has another aspect too. They are legal necessities for any organization. Under the Federal laws in the United States, you are bound to maintain logs and put in place an effective log management system.  

In building up your log management process as well as the usb Policy you are guided by the Federal Information Security Management Act, 2002 or FISMA as is called in short. Basically meant for protection and management of information and data owned by the Federal Government and organizations, its violation may land you in trouble. For example, you are bound to maintain an IT audit report which the Federal authorities may verify when required. 

There are other specific Security Information management regulations. The GLB Act requires that financial institutions maintain the security of their customer’s financial information.