
The Financial Industry Regulatory Authority fined Scottrade, Inc. $2.6 Million for failing to retain a large number of securities-related electronic records in the required format, and for failing to retain certain categories of outgoing emails. Scottrade also did not have a reasonable supervisory system in place to achieve compliance with certain Securities and Exchange Commission and FINRA books and records rules, which contributed to its record-retention failures. For more info visit https://www.finra.org/media-center/news-releases/2015/finra-fines-scottrade-26-million-significant-failures-required