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17a-4’s Electronic Repository Compliance Review

April 24, 2014

17a-4’s ER Review provides a standard compliance review of all of the electronic repositories used by a financial institution to retain regulatory records and provides a comprehensive report whether it is in compliance with applicable regulatory requirements and financial industry ‘best practices.’

Millbrook, NY-17a-4’s Electronic Repository (“ER”) Review builds on the many consulting engagements in which 17a-4 has reviewed a financial client’s electronic platforms.  These include:  email archives, hosted archives, fileshares, Microsoft’s SharePoint, deal rooms and the many other different locations for regulatory records.  The ER Review provides a very cost-effective check box review and as 17a-4 has worked with most repositories, we do not have to spend the time performing a technical review.  For instance, clients retaining ADV, advertising, employee agreements or other documents on SharePoint, are probably not in compliance with SEC mandates.

“Our goal,” says Charles Weeden, who leads the compliance consulting division of 17a-4, “is to provide a financial services company with a quick, cost-effective analysis of the different platforms they use to retain regulatory records.   At one large insurance company, for instance, we found 12 different systems used to retain records of which 4 were not in compliance with regulatory requirements.  This ER Review gives compliance a document that can be sent to IT with the recommendations as to how to bring these systems into compliance.”

Over the past 13 years, 17a-4 has provided compliance reviews to large insurance companies, registered investment advisors and regional banks.  In each case, the goal is to leverage 17a-4’s knowledge of archival technologies with its knowledge of regulatory requirements and financial industry ‘best practices.”

17a-4’s ER Review services start at $12,000.  For more information on the ER Review please contact, call (212) 949-1724 or visit .