SEC Gets Court Order to Obtain Emails from ISP
The SEC has obtained a court order requiring a respondent to sign a written consent for the release of his e-mails from his internet service provider. The court order would enforce a subpoena issued as part of an enforcement investigation into an alleged Ponzi scheme. The respondent claimed that he had no emails or computer, but the SEC presented evidence of both computers and electronic communications with clients.
OUR TAKE: SEC registrants should understand that electronic communications often serve as the evidentiary record of past conduct. And, it is very likely that somebody (e.g. ISP) will have copies.