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Toronto, June 27, 2012 — /BackupReview.info/ — Microsoft Exchange Server is a popular in-house email system used by financial firms to manage their communications. It allows full control over email accounts, sharing of contacts, calendars and public folders. In addition, it is relatively inexpensive operate, so many companies choose Exchange as opposed to outsourcing their email to a third-party provider. However, FINRA members must be aware that by default, it is not compliant. So an extra step must be taken to ensure specific compliance rules such as 17a-4 are achieved.
“Financial firms must be aware that employees can easily delete current or historical messages off their Exchange server at any time,” Said Allan Lonz, President of AdvisorVault, a third party provider that works with FINRA firms. “Even if a firm performs regular backups messages can be removed between backup cycles. Also attempting to restore emails from previous backups is difficult, even for an experience technician.” Lonz added. So, financial firms who use Microsoft Exchange as their in-house email solution need a method to ensure they are compliant with today’s long-term email archiving and supervisory rules such as 17a-4.
The Forward and Store Method
This means, emails are stored with AdvisorVault for seven years, on non-writable disk and made readily available to compliance officers for regular supervision or in the event of an audit. But best of all users are completely unaware of the process and prevented from delete message so firms are assured complete compliance with important data compliance regulation. This is critical for on-going supervision or in the event of an audit where regulator demand an electronic records request of historical messages.
AdvisorVault Supervisory Interface:
Key features include:
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