It pays to stay in corporate compliance

Now more than ever you need to keep your electronic records in corporate compliance. With some of the highest fines ever handed down for record-keeping violations, and new regulations being formed all of the time, these precedent-setting judgments send a clear message: Get in compliance or pay the price.

In December 2003, the SEC ordered five of Wall Street’s top investment banks to pay an equal share of $8.5 million in penalties for violating Rule 17a-4 of the Securities Exchange Act of 1934 for not retaining electronic communications.

• Philip Morris was fined $2.75 million for failing to produce documents promptly during a US District Court probe
• In December 2006, new Federal Rules of Civil Procedure were introduced which put new guidelines in place for eDiscovery. Now more than ever companies need to have their electronic data properly managed to address discovery rules which can force a company to deliver electronic corporate records into court.
• In nearly all legal proceedings, email and corporate communications become evidence and a critical part of eDiscovery

The corporate compliance challenge

All forms of electronic information transfers, including all emails and instant messages, are subject to regulatory retention policies. In order to gain approval from the SEC or other regulatory bodies, a firm needs to:

• Ensure information integrity
• Store records for 3 to 7 years in a non-erasable format with at least two years of online access
• Provide access to examiners for review of saved information
• Provide supervisory capabilities to actively search for inappropriate language in a communication
• Provide an ability to quickly retrieve information during a discovery process
• House the information in a place safe from any potential corruption

These requirements have placed a tremendous burden on IT to provide the necessary storage to house such a large amount of electronic records and a mechanism for on-demand retrieval of specific records.

Safecore for corporate compliance

Safecore provides a full suite of data archiving and managed compliance solutions to companies in all highly regulated industries. Safecore meets all federally mandated regulatory requirements, including:

• Verifiable information integrity
• Archiving both email and IM for the required 3 to 7 years
• Two copies of all information in non-erasable form/non-modifiable formats (WORM)
• Discovery and supervisory tools for fast response to examiners
• SEC required third-party “Letter of Undertaking,” SEC “notification,” and SEC “Representation Letter”
• Secure, intrusion-proof and robust data storage environment

Safecore’s corporate compliance solution allows you to create and manage secure, scalable digital archives to meet your current and future compliance needs. With Safecore, it’s easy to capture, index, supervise and archive in the records needed to effectively operate business, stay in compliance with regulations, and reduce discovery costs.

Safecore’s corporate compliance solution includes:

Managed Archival and Retrieval: SafecoreMA extracts all emails and instant messages as they are communicated and delivers them to a digital archive at Safecore’s facility where they are retained for three to seven years, and available for on-demand retrieval through intelligent indexing and searching.

Corporate Compliance Services: SafecorePro is a series of critical compliance services, including litigation and regulatory discovery, life cycle management, and consulting and planning services.

Secure Sharing: SafecoreVDR provides virtual data rooms where businesses can share and review even the most sensitive and confidential compliance content over the Internet safely.

Keep email and IM records in corporate compliance with SafecoreMA

SafecoreMA is a cost-effective and easy-to-implement solution for meeting stringent regulations that mandate the long-term retention and retrieval of electronic business information. SafecoreMA extracts all emails and instant messages as they are communicated and delivers them to a digital archive at Safecore’s facility where they are retained for company defined retention periods. SafecoreMA:

• Provides accurate, comprehensive, real-time archival access plus sophisticated compliance review tools to identify and flag inappropriate message content
• Can process millions of messages and archive hundreds of gigabytes per day with high availability, low fault tolerance and extreme resiliency
• Provides an intelligent content inspection and management platform that helps firms meet a wide range of internal policy and regulatory challenges, including: SEC, NASD, NYSE, and Sarbanes-Oxley, as well as human resources, legal, and intellectual property protection.

Learn more about SafecoreMA for email and IM archive and retrieval compliance.

Save internal resources by outsourcing corporate compliance tasks with SafecorePro

With SafecorePro, staying in corporate compliance doesn’t have to consume your internal resources. SafecorePro services include:

• Litigation and Regulatory Discovery: Respond to regulatory inquiries and litigation research quickly and with minimal impact on staff time. Safecore can perform full research into your archives, uncover the critical information you need, package it and deliver it to you fast.
• Scanning and Management: Transform your paper-based document management system into electronic files for more efficient storage and retrieval.
• Life Cycle Management: Rid your system of expired, out-of-date content.
• Data Migration: Transfer your static data from tapes and other formats to an online archive for rapid search and retrieval purposes.
• Email and IM Compliance Monitoring: Get your email and IM content monitored 24/7 to ensure it’s in compliance.
• Consulting and Planning Services: Get the expert advice you need to forecast, prepare and implement data retention strategies and corporate compliance initiatives to keep your business running smoothly.

Learn how SafecorePro can be customized to meet your compliance needs.

Share corporate compliance and regulatory information securely with SafecoreVDR

SafecoreVDR provides virtual data rooms where businesses can share and review even the most sensitive and confidential compliance content, safely and securely.

We transform existing paper and electronic documents into virtualized content that’s hosted on a secure site and provides secure access right down to the file level — making compliance reviews fast, easy and streamlined. SafecoreVDR:

• Provides timely access to sensitive or highly-regulated business content required for compliance reviews in a secure, controlled environment
• Eliminates the need to send classified or sensitive compliance content over the Internet
• Allows for view-only accessibility of compliance content that can’t be modified
• Replaces paper-based document management with a centralized virtualized content that’s searchable, accessible and secured for speedy compliance.

Learn more about SafecoreVDR for streamlining compliance review.