The Challenges of FINRA Email Archiving
There is no doubt that many customers are now struggling with how to deal with email archiving issues. However, US firms regulated by FINRA must follow strict guidelines for email archiving. The reality is that, for many businesses, it is extremely difficult to achieve and sustain email archiving systems that are FINRA compliant because they lack internal resources or knowledge. Implementing and maintaining a system that ensures FINRA email archiving compliance demands both the proper tools and the ability to properly use them, along with a thorough understanding of the risks involved in not complying. Organizations must take careful steps in order to ensure that they are fully compliant with FINRA and other regulations. Savvy customers can also find companies that will help maintain compliance with upcoming regulations as well as help lower overall costs.
Benefits of our FINRA Email Archiving Services
Ensuring that FINRA compliant Email Archiving is being conducted properly helps organizations from legal, financial, and operational standpoints, among others. Luckily, there are a great variety of tools that can help financial organizations tackle the challenges of complying with FINRA’s electronic records regulations.
FINRA Email Archiving & SEC Compliance
Email archiving is an essential component of both SEC and FINRA compliance. The following will describe the importance of SEC compliance and note how it relates to FINRA email archiving.
Why Must Entities Abide By FINRA Email Archiving Regulations?
The SEC compliance FINRA email archiving regulations are lengthy in text but the main meaning is quite clear and to the point. Basically, FINRA email archiving rules which revolve around SEC compliance state that financial entities must have a clear cut email archiving program in place. Email archiving provides a way for these companies to store their prior emails for a certain period of time and provide access to their employees on a continual basis when they need to access one or more emails. Email archiving also enables the company to store these emails in a remote location where they can be kept safe and still be retrieved. With such regulations in place, others can rest assured that should they need to obtain the emails and gain a paper trail to evidence in a court case, for example, the documents will be readily accessible.
Getting Well On Your Way to SEC Compliance
Being in stride with SEC compliance is not only a wise idea but it is required by the regulatory bodies. There are various SEC compliance specialists out there who offer FINRA email archiving programs but some are certainly better than others are. If you are interested in learning more about SEC compliance and FINRA email archiving, now is the day to start. When you fill out the brief form in the top right hand corner of this page you can gain access to an email archiving provider who knows what type of services you need and get you started with such services. SEC compliance is a must and FINRA email archiving is just one step in this necessary process to regulatory compliance. The end result will be a proper email archiving program which meets SEC compliance standards.
Importance of FINRA Email Archiving
Despite the start-up costs associated with FINRA Email Archiving, maintaining compliance can save your organization money in both the short-term and long-term, especially with the appropriate system in place and running well.
FINRA takes the task of records retention seriously – a strong hint that your organization should do so as well. The task requires working with seasoned professionals who know the ins and outs of FINRA compliance. Do the research and find a company with experience and positive reviews with helping clients be FINRA compliant.
FINRA has made it clear that email archiving and data retention are mission-critical. However, knowing exactly how email is supposed to be handled poses a big challenge.
What are regulators looking for?
Should companies go with an in-house or outsourced solution?
FINRA requires that firms create written policies and procedures detailing their email retention and compliance system. The purpose is to ensure the adequacy of the drafted procedures. If a firm fails to test their own policies there is the implied threat that FINRA will step in and investigate and the penalties can be severe.
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