A system and method for managing electronic messaging accounts for an organization having a regulatory requirement to retain business-related electronic messages is provided. The method comprises executing instructions on a processor that for a first user account for a first user associated to the organization, define a first message space accessible through electronic devices in communication with the server, where the first message space accommodates peer-to-peer administration by users in the organization and provides facilities for: identifying an owner for the first retaining and preserving messages based on retention parameters associated with the organization; and creating a message channel in the first message space for messages between one or more users in the organization and one or more additional organizations. The privileges follow an organization policy for the organization and provide the first user with privileges in managing the first message space reflecting the organization policy.