Sutherland Asbill & Brennan has released its annual analysis of disciplinary actions by the Financial Industry Regulatory Authority (FINRA), with electronic communication cases topping the list in terms of fines.
According to a release on Broadcaster Magazine’s website, Sutherland’s FINRA Focus #1 finds that 66 cases resulted in $15.1 million in fines in 2013. The allegations included failing to retain emails and other electronic communications, failing to adequately supervise emails and other messages, failing to disclose to regulators information about email retention systems and producing electronic records to regulators in an improper format.
