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By Susan Dixon, Marketing Director, Savenet Solutions
SaveNet Online Data Backup Expert Tips: Securities & Exchange Commission Compliance & Online Backup
There are many reasons to backup and secure your data one of the most important is that it is often a requirement of regulation. This is the first in a series of posts about various regulatory requirements placed on enterprise and how an IT department should think about them from a compliance perspective.
Securities and Exchange Commission (SEC) 17-a 3,4
In combination, Rules 17a-3 and 17a-4 require broker-dealers to create, and preserve in an easily accessible manner, a comprehensive record of each securities transaction they effect and of their securities business in general. Rule 17a-4 defines that term as “any digital storage medium or system.” Paragraph (f)(2)(ii)(A) of Rule 17a-4 requires that the electronic storage media preserve the records exclusively in a non-rewriteable and non-erasable format.
It also specifies the required retention periods for these records. For example, many of the records, including communications that relate to the broker-dealer’s business as such, must be retained for three years; certain other records must be retained for longer periods.
IT Compliance and SEC 17-a 3,4
Online Backup and SEC Compliance
SaveNet Solutions, powered by Asigra, is an Irish cloud backup and disaster recovery company. SaveNet’s solution is specifically designed for Mid-sized to Enterprise organizations. SaveNet offers numerous value-added solutions, coupled with industry leading features, such as: – agentless technology, FIPS 140-2 certification, deduplication, and more.
If you want to talk to someone about online backup and regulatory compliance then get in touch today.
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