VFinance To Pay SEC For Not Saving E-Mails

Law360 (November 11, 2008, 12:00 AM EST) -- Broker-dealer vFinance Investments Inc. must pay a civil penalty of $100,000 to the U.S. Securities and Exchange Commission for failing to preserve and hand over correspondence between one of its traders and his customers when the agency requested the information in the course of investigating an oil and gas company.

Administrative Law Judge Robert G. Mahony ruled Friday that former vFinance CEO Richard Campanella also must pay $30,000 to the SEC for his role in allowing trader Nicholas Thompson to use a personal e-mail account for...
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