Lehman Brothers is to use Iron Mountain's SEC-compliant Web-based digital archival and retrieval solution for managing electronic correspondence with customers.
Under the agreement, Lehman Brothers will use Iron Mountain's Enterprise Value Archives Architecture (EVAA) solution to provide long-term storage and access for its broker-dealer e-mail communications.
Regulatory requirements, such as SEC Rule 17a-4, and the growing use of electronic records in the legal discovery process, dictate specific archiving and retention requirements for e-mail and other electronic documents.
Peter Delle Donne, president, Iron Mountain digital archives division, says: "Through our digital archives, we provide broker-dealers with SEC compliant digital archiving capabilities at a cost significantly lower than a typical in-house solution."