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In the wake of evolving regulatory frameworks such as Sarbanes-Oxley, Gramm-Leach
Bliley, the Security Exchange Act of 1934, Anti-Money Laundering (AML) and the
USA-PATRIOT Act, virtually every financial services provider is revisiting its
document handling and retention policies. The goal: to balance regulatory
compliance requirements with the equally important business need to efficiently
search, access and share documents.
Fortunately, compliance need not be an inhibitor through unnecessary and
burdensome processes that rely on penalties to enforce compliance.
Instead, it is a key enabler for a more efficient organization.
With all of the attention and investment in managing electronic records, many
broker-dealers often overlook an important requirement in this sweeping mandate
-faxes and other paper records are integral components of the business and an
essential component of SEC 17a 4 compliance.
Unfortunately, for broker-dealers, SEC 17a creates numerous challenges that
must be successfully addressed. Failing to properly store paper and fax records
in an SEC-complying manner can leave the investment bank exposed to stiff
penalties and sanctions that can severely impair the business. What's more,
compliance lapses can create embarrassing disclosures that can decrease investor
confidence and damage your brand and reputation.
AccuRoute is the document-handling platform that responds to these compliance
challenges by capturing content from various sources (hardcopy, e-mail, fax,
or data streams) processing it (such as converting from one format to another
and compressing it), composing it (such as adding cover pages and merging
documents) and passing the finished product to the various delivery destinations.
Those can be recipients, output devices, or electronic content management
systems that can index, manage and quickly retrieve copies of all documents
to comply with SEC 17a regulations.
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