Skip to content
BOL Conferences
Thread Options
#46987 - 12/05/02 03:08 PM Saving e-mail on servers, part 2
Bartman Offline
Diamond Poster
Bartman
Joined: Oct 2000
Posts: 1,191
Springfield
Fox News picked up the Reuters story on the Wall St. firms fined this week (Dec. 3) for not retaining e-mail. Here's the link:

http://www.foxnews.com/story/0,2933,72018,00.html

My questions: Does anyone have the link to the SEC or NASD rule that these fines stem from? I need to provide management with some background. I'm researching this separately, but a direct link will save me a step.

Is there any similar guidance for banks, either publicly traded or privately held? Or does this apply strictly to brokerage-related electronic communications?

Thanks in advance for your assistance.
_________________________
Opinions are Bartman's, not those of my employer. "A noble spirit embiggens the smallest man."

Return to Top
eBanking / Technology
#46988 - 12/05/02 03:24 PM Re: Saving e-mail on servers, part 2
Andy_Z Offline
10K Club
Andy_Z
Joined: Oct 2000
Posts: 27,748
On the Net
The SEC page has a press release. It includes:
* Violated Section 17(a) of the Securities Exchange Act of 1934, Rule 17a-4 under the Exchange Act, NYSE Rule 440 and NASD Rule 3110 by failing to preserve for a period of three years, and/or preserve in an accessible place for two years, electronic communications relating to the business of the firm, including interoffice memoranda and communications.

* Violated NYSE Rule 342 and NASD Rule 3010 by failing to establish, maintain and enforce a supervisory system to assure compliance with NASD and NYSE rules and the federal securities laws relating to retention of electronic communications.


These are SEC rules.
_________________________
AndyZ CRCM
My opinions are not necessarily my employers.
R+R-R=R+R
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

Return to Top
#46989 - 12/05/02 03:25 PM Re: Saving e-mail on servers, part 2
BANNED BY BOL MANAGEMENT Offline
Platinum Poster
BANNED BY BOL MANAGEMENT
Joined: Oct 2002
Posts: 524
HERE is a good starting point

Return to Top

Moderator:  Andy_Z