It’s 2 AM. Do You Know Where Your E-Mails Are?
Written by Evan SchumanDecember 21st, 2006
One of the nation's largest investment firms had disciplinary complaint filed against it this week because, at best, it wasn't sure what E-mail was backed up. The worst case scenario has Morgan Stanley telling investors that their E-mail records were destroyed in the New York City terrorist attack, while they knew the backup records of those transactions were intact.
Although the central facts of the case are in dispute--Morgan Stanley's position is that the existence of the backup tapes was disclosed while the National Association of Securities Dealers says the disclosure was not made--the big-picture message is Morgan Stanley wasn't really sure what E-mail copies existed, what time period they covered and where they were.
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