PRZOOM - /newswire/ -
Toronto, Ontario, Canada, 2017/12/19 - AdvisorVault, the only designated third party (D3P) for small FINRA firms, adds new features to its SEC 17a-4 remote archiving solution - AdvisorVault.org.
To keep the cost of data compliance low as possible, small FINRA firms such as Broker-Dealers and RIA’s need to outsource electronic records archiving to a provider who has specific features built into their solution. In particular, they need to remotely backup data with a third party, including emails and other systems for disaster recovery.
To fully accomplish this, It’s important they outsource data archiving to a provider with several key features included, ensuring regulators are happy, while keeping technology spending low as possible.
“AdvisorVault is constantly adding new features to its 17a-4 remote archiving solution. We understand the unique challenge small FINRA firms have with data compliance,” said Allan Lonz, President of AdvisorVault. “We know that small firms have electronic records, emails and other critical data spread out on servers, PC’s, mobile devices and the cloud, so we continually add new options to our solution, making sure we can consolidate all this data to one centralized SEC 17a-4 compliant system.” Lonz Added.
AdvisorVault’s New Features:
Replicate to 17a-4 Storage: The Replicate feature of AdvisorVault’s 17a-4 software retains current data for three years and keeps it readily available to compliance officers or FINRA auditors to perform daily or weekly review.
Move to the Cloud: the Move to the Cloud feature of AdvisorVault, automatically moves data after three years and archives it within AdvisorVault for seven years. This option frees up expensive storage and makes historical records easy to retrieve for auditors during the FINRA 17a-4 electronic records request.
The Temporarily Retain feature keeps critical data on hand for quick recovery following a disaster, which makes systems available for restore either back to their original state or to an alternate location within 48 hours after a failure.
A Consolidated Solution:
It’s critical that small FINRA firms use a consolidate solution to achieve 17-4. Broker-Dealers and RIA surely need to outsourcing to a third party D3P with all the features built into their software, such the flexibility to retain different data for different time periods, move older data off expensive storage yet keep current other data for recovery in a disaster is the keep to data compliance.
AdvisorVault (advisorvault.org) is the only third-party provider that has created a SEC 17a-4 compliant archiving solution designed specifically for small FINRA firms. The product remotely archives all data and consolidates it into one platform that is accessed through a secure website. Our complete approach protects data and email residing in the cloud, on internal systems and laptops, as well as on mobile devices and in branch offices.