You can edit the automatic event purge settings within CSP in the Admin > Settings > General Settings > Event Management. By default, this is not set, so all events are kept forever. There are also some limits that CSP uses when purging events. If you enable the event purge and still are seeing a huge event table, then you should entertain deleting events by running a query against the database.
To manually purge events by running a Query against the database, see http://www.symantec.com/docs/TECH112966
Another thing to watch out for is the Transaction Logs filling up in the database . . . .
Doing a FULL database backup (best practice) within SQL 2008 will automatically purge transaction logs as part of the backup process.
If you are running into this issue, then you may not be performing regular database backups. Check the backup status in the Reports > Queries > Symantec > Status > Database Status query within SCSP.
Run the query and look at the top line. If it does not say GREEN/GREEN (Disk Space/Backup Status) then you need to investigate the cause of the problem.
If you do not administer the CSP database, then speak with your DBA and have them set up daily (recommended) full backups.