The SEC is an independent Federal agency established under the Securities Exchange Act of 1934. The SEC collects information during inspections and examinations and receives case filings and other information from regulated entities. Some of the information comes in paper format, which must be imaged and loaded into SEC systems. Other information arrives through electronic media and may need to be converted or processed before being loaded into repositories. In some instances, documents may be shared with other law enforcement agencies or external organizations. The Division of Enforcement (ENF) has about 1,400 employees, with about 500 located in the Washington, DC area and 900 distributed nationwide among the SEC’s 11 Regional Offices.
Digital Infuzion implemented and deployed a case management system, the Evidence Tracking System (ETS), to support the ENF’s requirements for investigating and litigating potential violations of federal securities laws. ENF’s eDiscovery and case management requirements include the initiation of 900 – 1,200 cases each year. Each case generates a file of various kinds of associated records. ENF obtains leads of possible violations of the securities laws from many sources, including its surveillance activities, other Divisions of the SEC, the self-regulatory organizations and other securities, industry sources, press reports, and investor complaints. Paper and electronic documents received by ENF are considered evidentiary material. Some documents are used in litigation, and Federal rules of civil procedure apply to the way the documents are handled and processed. ENF cases may remain active for more than ten years. As part of its e-discovery services, the SEC handles approximately 3,000 to 4,000 requests to process evidence each month.
The ETS is a web-based application that provides a means for electronically requesting and tracking services. It also provides reports available to management and users. The system tracks where assets (such as the evidentiary media) are located during the entire process while maintaining a chain of custody. The assets (media) are transferred to and from different groups during processing. Digital Infuzion implemented three versions of the ETS to support eDiscovery requirements and consolidated user tools by replacing multiple disparate applications previously used to support SEC ENF’s eDiscovery processes. The contract consisted of initial customization, configuration, and deployment of the ETS into the SEC information technology environment and supporting the ENF business owners in rolling out the product to applicable users.
- ETS serves SEC stakeholders nationwide as an authoritative data source supporting over 2,400 users.
- Automated process for logging incoming case filings received by the SEC during an investigation.
- Allows users to request various services such as scanning, loading, electronic data discovery (EDD) processing, backup tape restoration, audio file searching, and internet investigation assistance.
- Used by multiple SEC support contractors providing a wide range of knowledge management e-Discovery services.
- Workflows carefully span across stakeholder groups resulting in seamless and efficient communication.
- Consolidates application tools to gain better insight on issues, project deliveries, and audits.
- Contains cost by having all stakeholders work within one system.