Brown Associates of Tennessee agreed to a $50K fine to settle FINRA charges it improperly handled and stored electronic correspondence.  FINRA specifically alleges that the firm: 

• did not properly archive business-related e-communications (emails) for individuals in some of its OSJ's. 
• failed to backup emails stored on stand-alone servers or individual machines.
• apparently allowed users to delete emails and thereby could not preserve business correspondence, as required.
• failed to review business-related communications for the individuals involved.
• failed to evidence its review of individuals' business-related correspondence as mandated by the firm's WSPs.
• failed to provide FINRA with notification and 3rd-party attestation regarding use of electronic storage media 90 days prior to employing such media.

In addition to the fine, the firm's required to certify to FINRA in writing that it currently has systems in place to guarantee compliance with regulations concerning storage of e-correspondence. 

This is FINRA Case #2009016207701.  [Disciplinary Actions for July 2011]