Newly Released Securities and Exchange Commission Enforcement Manual ("Red Book") Provides Guidance on Treatment of Electronic Information
For the first time, the SEC has released its Enforcement Manual, also known as the "Red Book” to the public. Although the manual is intended to provide guidance to members of the SEC’s Division of Enforcement, it is a valuable resource for anyone involved in a SEC investigation.
Several sections address the topic of electronic information. For example, section 3.2.6.2, “Form of Production,” provides a detailed explanation of what is expected of those responding to an SEC subpoena, including a discussion of the SEC’s preference for electronic production. Section 3.2.6.2.3, “Format for Electronic Production of Documents to the SEC,” provides even greater detail regarding the production of electronic information. The manual also provides valuable guidance on privilege logs, bates stamping, records certifications and much more.
The full text of the Enforcement Manual is available here.
