Dec 23, 2006

Regulator Says Morgan Stanley Withheld E-Mail in Cases - New York Times

"I lost it" does not fly with regulators...

The regulator also contended in its complaint against Morgan Stanley that the firm regularly destroyed millions of e-mail messages by overwriting its backup tapes and by allowing employees to delete messages. Securities and Exchange Commission rules require that firms keep all e-mails and business communications for three years.

Source: Regulator Says Morgan Stanley Withheld E-Mail in Cases - New York Times

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