217 of DC’s emails were missing from the archives,http://lunettesoakleyfra

You might think Piper Jaffray Co,lunette carrera. would have known better,lunette oakley.

The 115-year-old Minneapolis-based investment bank has agreed to a $700,000 fine for failing to retain millions of e-mails as required by securities laws and regulations,lunette carrera pas cher, and for failing to inform regulators until after they had discovered the problem during an investigation of a former Piper Jaffray employee,discount ray ban.

The company paid a $1,ray ban.65 million fine in 2002 for failing to preserve its e-mails for three years as required by regulations,ray ban. Piper Jaffray’s president and CEO,carrera pas cher, Andrew Duff,Abercrombie Paris, said at the time that he was confident that the company’s revamped archiving procedures and enhanced software would meet regulatory requirements,Abercrombie. “As a result, over the entire period reviewed we retained approximately 98 percent of e-mails rather than 100 percent as we were required to do,lunette carrera pas cher.”

Investigators found that Piper Jaffray failed to retain 4,abercrombie femme.3 million e-mails,oakley pas cher, 3,vente lunettes oakley.8 million of them after adjusting for 550,abercrombie soldes,000 that were recovered in 2007.

Piper Jaffray says its retention of e-mails now is “effectively 100 percent.”

“Regarding the enforcement action cited,abercrombie femme, Piper Jaffray regrettably, due to technology issues, inadvertently made an incomplete e-mail production in January 2006,abercrombie and fitch; FINRA did later discipline the individual in question,carrera pas cher.”

The settlement agreement Piper Jaffray signed casts the company’s behavior in a harsher light,oakley pas cher, however,ray ban pas cher. It says the firm began having problems with its e-mail retention system almost as soon as it was installed in 2002,Ray ban Wayfarer, problems that continued from time to time through 2008. Yet the firm failed to promptly report those problems to FINRA,ray ban pas cher, the National Association of Securities Dealers or the New York Stock Exchange,lunettes ray ban.

FINRA investigators tripped across the problem while searching for an electronic copy of a 2004 e-mail that Piper Jaffray had printed out in connection with the complaint about its employee,lunette oakley, DC,carrera 2013. Turns out,lunettes ray ban, 7,lunette oakley pas cher,217 of DC’s e-mails were missing from the archives,lunettes carrera moins cher, or 15,vente lunettes oakley.8 percent of the employee’s total,oakley. In addition,ray ban moins cher, Piper Jaffray failed to turn over 6,ray ban pas cher,382 of the employee’s “Bloomberg messages” until January 2009,ray ban, when FINRA was already in the process of settling the DC complaint with a $5,carrera pas cher,000 fine and three-month suspension,Abercrombie Pas Cher.

Piper Jaffray discovered in September 2008 that nearly a million e-mails sent by its employees via Bloomberg terminals in 2008 were not ingested into the computer system Piper Jaffray uses to comply with its supervisory responsibilities,oakley. In addition,ray ban moins cher, the firm discovered that from August 2002 through 2008,oakley pas cher, it failed to link certain Bloomberg accounts with specific Piper Jaffray employees,lunette carrera.

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