The Sarbanes-Oxley Act Didn't Invent Penalties For Destruction of Evidence,
Did Perfect Them
By Randolph Kahn, ESQ
The Sarbanes-Oxley Act of 2002 was passed in the wake of seemingly endless
financial scandals involving a number of public companies. The law is a new
tool for the SEC to regulate publicly traded companies and protect the
investing public from the actions of unscrupulous executives and accountants.
Many careers, companies, and billions of dollars later, it is heartening that
many in the information management community are asking about the impact of
the Sarbanes-Oxley. So what does the law mean, what are the implications for
your company, and what can be done to insulate your company from becoming the
next headline? However, before we answer those questions, let's briefly look
at the law itself.
E-Mail -- A Company's Forensic Nightmare
By Cynthia Flash
Lawyers are having a field day sifting through electronic documents in their
attempts to unearth evidence of corporate scandals.
New York Times 11/22/02
Regulators Say Morgan Stanley Did Not Keep E-Mail Records
By GRETCHEN MORGENSON
Securities regulators who are investigating the practices of Wall Street
analysts said that Morgan Stanley, the nation's second-largest brokerage
firm, failed to maintain internal e-mail records as required by securities
laws. As a result, several investigators said, there are fewer Morgan Stanley
documents to analyze than have been produced by some other firms.
Herald Tribune 11/23/02
Judge: PSC must give auditor e-mails
The Associated Press
The state's utility regulatory panel has been ordered to turn over all of its
e-mails to the legislative auditor as part of an investigation into the
State District Judge Janice Clark ordered that e-mails from the Public
Service Commission be made available to Legislative Auditor Dan Kyle's office
on Monday, said Jenifer Schaye, Kyle's attorney.
The Scientist 11/26/02
Cornell must reveal records
Court finds private school running state research is subject
to freedom of information law.
Wall Street Journal 11/27/02
Quattrone E-Mails Link
CSFB Research, Banking
By RANDALL SMITH
Staff Reporter of THE WALL STREET JOURNAL
Frank Quattrone, the star technology banker at Credit Suisse First
Boston, personally asked a research analyst who was about to begin
covering a software stock what investment-banking business the firm had
"extracted" in return for the coverage, according to an e-mail between
Mr. Quattrone and the analyst.
Naples Daily News 11/27/02
Judge to re-examine restrictions he placed on public access to search warrants
EU-US Law Enforcement Deal Hits Civil Rights Snag
— By Marie-Louise Moller
BRUSSELS (Reuters) - A deal to exchange personal data between EU law
enforcement agency Europol and U.S. agencies hit a last-minute snag Thursday
because of European fears over lawsuits and civil rights infringements,
The New York Times 11/28/02
The Censor and the Artist: A Murky Border
Naples Daily News 11/29/02
Hillsborough school records demanded in federal probe
TAMPA — Federal authorities have asked for Hillsborough County school district
records of a former employee as part of a theft investigation and a grand jury
hearing next month.
A subpoena dated Nov. 21 seeks the personnel file of James McClelland, who
retired in July 2001 after 16 years as the school district's head grounds
Bloomberg News 11/29/02
Morgan Stanley Says Key Records Were Lost on Sept. 11, WSJ Says
By Carleste Hughes
New York, Nov. 29 (Bloomberg) -- Morgan Stanley says many of the documents
customers need to argue arbitration cases against the firm were destroyed in
the Sept. 11 attacks, the Wall Street Journal reported.
Everything from brokerage-commission records to e-mail correspondence were
Morgan Stanley said, according to the newspaper.
Wall Street Journal 11/29/02
Morgan Stanley Faces Questions On Lost Records Its Clients Need
Firm Says Documents Vanished Sept. 11, 2001, Raising Issues About
New York Times 11/30/02
Why Judges Should Make Court Documents Public
Peter A. Kurilecz CRM, CA
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