Network Computing is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Brokerage Firm Zips Through Email

Brokerage firm Morgan Keegan has used an email archiving system for compliance since 1998, yet compliance remains front and center among its IT priorities.

The Memphis, Tenn.-based financial services firm is on its third email archiving application, and rolled out its first archiving storage system in June. The staff will soon pour other financial documents into it, and is preparing for new rules governing civil litigation that take effect Dec. 1. (See Retention Rules Set to Change.)

All the while, the email flows in and out. Parker Mabry, SVP of network systems, says the firm has about 3,500 employees on Exchange and stores about 4 million emails per month in addition to instant messages -- all subject to industry and internal regulators and auditors.

"When regulators come in and request information, most of the statutes say our email has to be readily accessible," senior Exchange engineer Chris Godsey says. "No regulatory body has said 'readily accessible' means this many hours or this many days. It's at the discretion of the regulator. If he's having a bad day, he might say he wants it today."

Morgan Keegan has more than 300 offices in 18 states and $596 million in equity capital. Its regulators include the SEC, New York Stock Exchange, and NASD, as well as internal auditors, accountant Ernst & Young, and Sarbanes-Oxley consultant PriceWaterhouseCooper. Lawsuits involving Morgan Keegan or companies it does business with also frequently require the retrieval of email.

  • 1