E-Mail Snafu Costs Piper Jaffray $700,000

摘要

The article reports on the predicament of Piper Jaffray & Co. which failed to retain 4.3 million electronic mails (e-mails) as required by the U.S. Financial Industry and Regulatory Authority (FINRA). It states that the firm has agreed to pay a 700,000 dollar fine for its recordkeeping violation. It adds that FINRA has discovered the violation when Jaffray failed to produce e-mails of a former firm employee suspected of misconduct.