A different story emerges on SEC record purges

When the Securities and Exchange Commission was accused last year of improperly destroying records, in particular those related to certain initial inquiries into possible wrongdoing, the agency responded with a reassuring letter.

In a response to the National Archives, which oversees the preservation of federal records, the SEC said its enforcement division was "not aware of any specific instances" in which it destroyed records of cases that it deemed unworthy of full-blown investigation.

But earlier, unsent drafts of the SEC's Aug. 27, 2010, letter told a different story about the handling of records, which has come under investigation by the SEC's inspector general.

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Howard Schneider 06 Sep, 2011

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