John: Let me know if you are ok with the following memo which would come from you and me to the traders and senior originators: Effective October 15, 2000, the retention period on tape recordings of trades done by telephone will be reduced from four months to one month. The tapes regarding significant transactions may be retained for such longer period as approved in writing by both the Head Trader and the General Counsel. Please propose those significant transactions on which you may wish to retain the tapes, prior to October 15, 2000, since the tapes on conversations older than one month will be destroyed on that date. If you have any questions, please contact Mark Haedicke or Richard Sanders. We are still looking at moving to recording only the deal terms -- but that
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Retention Policy on Trading Tapes