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Article: The E-discovery Awakening: New federal rules hit securities industry hard.(Federal Rules of Civil Procedure)(usage of email as an evidence)
- Article from:
- Securities Industry News
- Article date:
- December 4, 2006
CopyrightCOPYRIGHT 2006 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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New Federal Rules of Civil Procedure (FRCP) that took effect on Friday will change the way companies do business in federal courts. Based on a U.S. Supreme Court ruling of April 12, the rule changes are part of a package aimed at defining what is acceptable for discovery and disclosure in legal cases. The changes affect every business, organization and person that may ever be involved in a federal court case, but they have special relevance for the securities industry and the way e-mail is handled as evidence.
Because it is highly regulated and prone to litigation, "the securities industry will be more affected by these rule changes than any other industry," says ...