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Toronto, ON, March 5, 2012 –/BackupReview.info/– AdvisorVault, the only remote backup provider specifically create for small financial firms now offers Remote Data Archiving to help FINRA members achieve SEC rule 17a-4.
By far, the most troublesome data compliance regulation for FINRA members is the electronic records retention and supervision rule 17a-4. This piece of legislation imposed by the SEC mandates that all members firms perform three basic functions:
* SEC 17a-4 Requirement One: Backup data relating to their books and records and keep a copy separate from the originals
* SEC 17a-4 Requirement Two: Archive these electronic records for at least 7 years on non-rewriteable media
* SEC 17a-4 Requirement Three: Assign an independent company, called the designated third party (D3P) who can also access this data for auditors in its original format
For large firms with full IT and compliance staff this is not a problem; they have the money to build and manage their own systems in house and can easily archive their electronic records in accordance with FINRA and SEC rules. But for small firms with limited budgets this is a big problem, and trying to manage this process is simply impossible. So they need to outsource these key requirements to a third party provider, but with all the choices out there, how do small firms choose one provider who can offer a complete solution to ensure the electronic records retention and supervision rules of SEC 17a-4 are properly met?
Remote Data Archiving for Compliance
Key Benefits of Remote Data Archiving:
1. Fully Outsourced: Remote data archiving is an outsourced solution managed by a third party. The software is automatically updated and the whole process is monitored to ensure full compliance at all times
2. One Flat Monthly Fee: For one low monthly fee it includes the protection of data on all servers, computers and laptops at all locations including head office, branch location and home/travelling users
3. FINRA Compliant: Data is stored and retained in accordance with FINRA rules in a secure remote location
4. Simple Setup: Remote data archiving does not require special hardware and includes all the software to protect and unlimited number of server and computers at all locations
5. Secure Data Protection: Data is encrypted and stored at in AES 256 secure format, the highest industry standard used by the American Government.
6. Protection for all Data Formats: The solution support the protection of data contained in the books and records, other documents, databases and emails
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