Answer:
Email retention rules apply to Sarbanes-Oxley applicable banks and SEC applicable transactions. Under SOX I believe it is Section 404, and under SEC rules refer to NYSE rule 342 and NASD rule 3010 which require you to establish, maintain and enforce a supervisory system relating to retention of electronic communications. You'd also consider fair lending rules, CRA, etc. as you decide what to retain and for how long. I boil it down to paper. If it were on paper, how long would you keep it? Do the same here.
First published on BankersOnline.com 6/11/07
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