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Toronto, Ontario, Canada, Mar 01, 2011 –/BackupReview.info/– With their continuing advancements in technology, small financial firms can now use remote backup providers to achieve compliance rules such as SEC 17a-3 &17a-4 and successfully pass FINRA audits.
However, not all remote backup providers are created equal and broker-dealers, investment advisors and wealth management firms must be careful in selecting the right provider to help them achieve today’s stringent data compliance regulation. They should look for the following features when choosing a provider to outsource their remote backups.
What to look for in a remote backup provider:
In addition to regular protection of this user data, a provider should have the built in ability to perform full-system state backups of critical systems to enable “bare metal” restored to alternate hardware. This will allow the quick recover of servers and their associated operating systems and programs in the case of complete failure.
2. Licensing Free Software
3. Completely Self Managed
4. Built-in Archiving
Unfortunately, this is not compliant and data that changes frequently will be overwritten. Therefore, older copies of files may not be available during an audit or in the event of a disaster. An additional archiving process must be added in this case to perform regular full “snap-shots” of data at least monthly and moved to non-rewriteable optical disks. This will then be stored securely for at least 6 years. Non-rewriteable DVDs are a perfect technology for this because of their capacity, durability and low cost.
6. Ease of recovery
It is critical to identify critical vulnerabilities in their data compliance strategy. Due to their lack of internal staff or budgets they must look to third party provider to help them build data compliant systems. Remote backup providers are now well suited as an option for these companies to achieve today’s complex data compliance requirements.
These six things to consider in a remote backup provider has been presented to help small financial firms successfully choose between the many providers that exist today. In following the above guidelines they will have more success in choosing the correct provider. Essentially the goal is to ensure SEC audit success and quick recovery of critical records in the event of a disaster.
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