AdvisorVault Automates 17a-4 Archiving for Small FINRA Firms

I've noticed recently that the 17a-4 electronic data request is causing severe troubles for small FINRA companies. Particularly, whilst they may be asked for a sample information set that can range from Word medical doctors to scanned records, emails, databases or maybe systems state for catastrophe recovery. The firm then has to login to their 17a-four archive, download this information to a disk and hand it over to the regulator instant. The problem is, many corporations' electronic records are actually so dispersed that gaps frequently appear in their archive or positive statistics really is not covered due to the fact the tech department makes adjustments inclusive of adding new personnel with out compliance knowing.

Therefore, earlier than I placed the AdvisorVault 17a-four Remote Data Archiving answer in region as a part of our FINRA special 1/3 part (D3P) obligations, I take some time to show corporations some hints to help them automate the archiving of digital information to close those gaps.

Centralizing 17a-four Data Archiving:

When it comes to attaining SEC rule 17a-4, its crucial to recognize the basics of what is expected. Despite all the confusion surrounding records compliance nowadays, FINRA firms really want to perform 3 things: (1) Archive records relating to books and facts, emails and structures for catastrophe recovery, (2) shop this archive with a designated 0.33 birthday party for seven years and, (three) make certain this statistics may be made to be had to regulators at some stage in an audit. Doing these 3 matters, will clear up ninety in keeping with cent of a company's facts compliance worries, the relaxation is definitely approaches and documentation of the above.

Firstly, firms need to centralize their books and data earlier than they archive them with their FINRA D3P. For instance, while the usage of cloud garage together with Dropbox, OneDrive or Google Drive my advice is to apply the sync folder option as the default store for all registered. This option, blanketed with all cloud garage products, locations a nearby folder on every computer that is used to shop digital data created by using everybody inside the company which might be then stored inside the identical cloud folder. By doing this, all statistics for 17a-4 retention is saved centrally which AdvisorVault can without problems make compliant in one step.

Furthermore, this sync folder may be used to consolidate the storage of different vital records that must be archived to the precise 1/3 birthday party for 17a-four. Such as scanned digital records, purchaser database backup dumps or exports from the CRM, even as a at the same time, helping companies create a really compliant paperless office with get admission to to electronic statistics to all people, from everywhere. While in the long run, preserving compliance officials and auditors glad.

To automate electronic mail archiving for 17a-4 facts retention and supervision, I advise the use of cloud e mail website hosting from Office 356 or Gmail however with the journaling characteristic enabled. Journaling automatically forwards all incoming and outgoing emails from the cloud company to AdvisorVault which might be then retained for seven years of their unique layout; the 2 important matters regulators need to see. Furthermore, if any e-mail new accounts are added, journaling routinely captures them in real time, with out the want for compliance or tech guide to manually add them into their 17a-four archive.

Finally, to automate disaster recuperation as a part of FINRA's business continuity planning necessities, AdvisorVault consists of ShadowProtect to time table complete photograph copies of customers' bodily or virtual servers. These pictures are then transferred to our faraway 17a-four garage each time they are created. The key right here for disaster healing is that any version of a server photograph may be booted or run directly from our cloud for fast get admission to. This in flip to enables groups limit downtime considering the fact that their bodily servers might not be up all through a disaster. As an additional measure, ShadowProtect lets in for granular restores of man or woman documents or database if wished during recovery.


Small FINRA companies are having troubles today with the 17a-four electronic facts request because gaps often appear in their 17a-four facts archiving system. The answer is to centralize records earlier than its archived by way of the usage of the cloud sync option, journaling and ShadowProtect so that their D3P has one area for archiving and retention of records as required via rule 17a-four, ultimately the compliance officer can be able to down load anything requested by using the regulator whilst they arrive for the normal electronic facts request.

About AdvisorVault:

AdvisorVault, designed for small corporations, is the only FINRA unique third party offer (D3P) who has created a whole solution for 17a-4 information archiving. For one flat monthly price, we ensure the far off backup, retention and supervision of all digital records for 17a-four with full disaster recuperation as part of the business continuity making plans requirements. A whole, turnkey compliance solution - out of the field.

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