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What Financial Organizations Need to Know About Archiving Electronic Communication

Financial organizations are highly regulated and can face large fines, penalties, and sanctions for not complying with the many regulations and guidelines for archiving and retaining electronic communications.

Some of the important regulations that you need to comply with are listed below.

Regulations for Financial Organizations:

  • FINRA 10-06 — Financial firms must retain records of social media communications.
  • FINRA 11-32 — Defines tweets and text messages as written material that needs to be preserved
  • FINRA 11-39 — Firms are required to retain, retrieve and supervise business communications regardless of whether they are conducted from a work-issued device or personal device.
  • SEC Rule 17a-3 & 17a-4 — A dealer or broker must preserve documents and records for three to six years, the first two years of which, they must be in an accessible location.
  • NASD 3010/3110 — Member firms must implement a retention program for all correspondence involving registered representatives.
  • Sarbanes-Oxley Act — Public companies must save all business records, including electronic records and messages, for no less than five years.
  • IIROC 11-0349 — All methods used to communicate, including social media, blogs and chat rooms, are subject to the IIROC Dealer Member Rules
  • Dodd-Frank Act —All information (communication) handled by a major swap participant related to an executed trade must be stored and held for the duration of the transaction vehicle
  • Graham-Leach-Bliley Act — Section 6801 requires that access to all customer records, including communication, be carefully controlled to prevent substantial harm or inconvenience to any customer

Download this PDF to learn more!

Retain – The Complete Financial Compliance Archiving Solution

How Does Retain Address Regulatory Concerns within Financial Organizations?

Retain™ Unified Archiving provides multi-platform unified archiving of email, social media, and mobile communication. Retain also includes built-in eDiscovery, and publishing for organizations looking to reduce costs, manage complexity, and mitigate risk on-prem or in the cloud.

Multi-Platform Unified Archiving

All Messaging data, including email, social media, instant messaging and web search data, is archived into one unified archive. Retain gives you the ability to search, publish, and perform eDiscovery from one central location.

Flexible Archive Access

The Retain Archive can be browsed and searched directly from multiple access points, including: the end-user email client, the Retain mobile app, the browser-based web access client, and the Offline Archive Viewer. Plus, archived data can be exported to a portable stand-alone archive viewer.

Policy-Based Unified Archiving

Retain provides fully configurable policies that allow you to define the specific email, mobile, and social media communication data you want to archive. These policies allow you to define what is archived based on mailbox type, message source, item type, message status, the age of the message, and attachments. You can also filter by folder and attachment type. In addition, Retain has the ability to implement retention policies for all archived data.

Social Media Archiving & Oversight

Retain Social™ provides archiving, monitoring, and data insights. This enables organizations to perform eDiscovery, review messages in context and help determine the tone of all posts and pictures for Facebook, Twitter, LinkedIn, Instagram, Flickr, Pinterest, and Google+. Plus, you get archiving for all YouTube and Vimeo videos and comments.

Mobile Communication Management

Retain Mobile delivers secure, encrypted messaging and archiving for iOS, Android and BlackBerry devices. This solution is for organizations that utilize personal employee and corporate devices to generate and consume business data, while meeting regulatory and compliance requirements.  Retain archives all encrypted SMS/Text messages and dedicated business phone number electronic communication data for iOS and Android, via the secure communications server. Additionally, Retain archives SMS/MMS and phone call logs for Android and BBM, PIN, SMS/MMS and phone call logs for BlackBerry devices. This means there is no need to tether or sync the device and archiving is done in real time. Retain is the only enterprise-ready archiving solution for iOS, Android and BlackBerry devices. 

eDiscovery Regulatory Search

Administrators, records management, and other authorized users can perform the following essential functions with Retain, eDiscovery and regulatory searches including: place litigation holds, print, forward, save, redact and export with the built-in tools.

Compliance & Control

GroupWise, Gmail, Exchange, and Office 365 lack critical capabilities that can put your organization at risk for data loss and compliance violations. Therefore, the standard archiving functionality of these systems is not enough for the enterprise. Retain solves this problem by disabling auto-purge, supporting SmartPurge, allowing for archive policy control, supporting export to PDF, allowing archived messages to be restored to the inbox, allowing for redaction on exported messages and prohibiting message alteration or deletion. These features help ensure your data archive is complete and compliant. 

Web Access Archive Viewer

Only Retain offers an easy-to-use browser-based interface with powerful search tools that let you quickly access, search and perform eDiscovery on the archive.

Open Records Search

Be ready for any open records requests for email, mobile, and social media messages. 

Complete Export Functionality

Export the data easily into either PST, PDF or stand-alone archive viewer formats. The exported file is fully indexed, searchable, and includes a table of contents for quick browsing. 

Redaction Control

Exported data can be redacted, ensuring that personal information, or other redacted items do not become part of the open records request. 

Litigation Hold

To protect any email that may potentially be involved in future litigation, Retain can flag an archived item, or an entire email account, to protect it from any deletion or actions until the hold is removed.

Audit Trail

Retain creates a searchable audit trail of all administrators and users that have permission to search the archive, enabling you to have record of all activity.

Configurable Permissions

Use the Access Control list to grant users, administrators, or others, access to the features and functionality of the Retain system, based on the roles you set. 

End User Mailbox Management

Easily search and restore with the Retain Web Access Archive Viewer. Give end users the ability to: Search, forward, print, restore messages, access, search and view messages in their original context without administrator support.

Fast & Easy Retrieval

Retain contains a built-in Lucene® indexing engine or the Retain High Performance Indexing Engine (for larger deployments).

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