“I was simply seconding or encouraging people to follow the document retention policy,” former Credit Suisse First Boston investment banker Frank Quattrone testifying in his own defense to charges of obstructing federal investigations by forwarding an e-mail encouraging destruction of corporate records in the face of government investigations.
A Records Retention Policy in the Electronic Era
Every company should have a records retention policy. Due to increased use of e-mail, this policy must address the changing business world by including a clear directive on the retention and destruction of electronic records. (Companies tend to use the term "document retention policy." However, due to the proliferation of e-mail and other electronic data, "records retention policy" is more appropriate.) Most importantly, the policy must provide a directive that ensures that, when the threat of litigation arises, whether civil or criminal, all relevant documents are preserved.
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Mark C. LevyThis premium content is locked for LawJournalNewsletters subscribers only
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