POL00029867
POL00029867
Message
From: Parsons, Andrew}, GRO t
Sent: 15/07/2015 14:
To: martin.smith
Subject: Balancing Transactions (BD-4A.FID20472253]
Attachments: Old Horizon v1.docx
Martin, Simon
Before Rodric went on holiday, he asked me to push forward the disclosure piece around Balancing Transactions.
I understand that during the con with Brian Altman, there was a discussion about doing some further investigations into
when POL had used BTs on Old Horizon. As part of these investigations, we asked FJ to explain how BTs would work on
Old Horizon. In reply, they produced the attached paper. In short, it says:
- It was possible to do something equivalent to a BT on Old Horizon.
- Any "BT" would show in the master transaction logs.
- Searching for BTs would be a big job.
It has subsequently been confirmed by FJ that searching for BTs would in fact be an enormous task, taking several
months of work. The reason for this is that transaction data is simply not stored in a way that permits one to run a single
query across all the data in one go. FJ would need to unpack the data for each branch, search it, then re-pack in a way
that does not destroy the audit trail for the data. On this basis, POL is not prepared to commission this exercise unless it
is considered absolutely vital and there is no credible alternative.
I would be grateful for your thoughts on an alternative way forward or whether, in light of the above, POL needs to
undertake this exercise at all. Perhaps we could have a quick con call to discuss later this week. I'm around all week — so
please let me know when is good for you.
My thoughts on one way forward are that POL could try to narrow the scope of the search as follows:
e Only look at Old Horizon data (ie. pre 2010) — as we know there was only one BT on New Horizon because New
Horizon tracks BTs in a separate log.
e Wecan only back as far as around 2008 due to normal retention policies on Horizon data.
e Only look at data for branches where there was (i) a prosecuted SPMR and (ii) the SPMR was an active SPMR
during the above time periods.
Kind regards
Andy
Andrew Parsons
Managing Associate
www.bonddickinson.com
POL-0026349