The financial services industry is subject to numerous regulations, many of which affect how electronic data is stored, what types of electronic data must be stored, and how long it must be stored. Many financial institutions were familiar with email archiving, but the Dodd-Frank Wall Street Reform and Consumer Protection Act broadened the scope of information that must be archived to include documents, Bloomberg data, and many other file types.
In addition, financial services organizations must be concerned about the security of their data. The Graham Leach Bliley Act (GLBA) protects private consumer information held by financial institutions. Under SEC Rules 17a-3 and 17a-4, broker-dealers must have a searchable index of all data stored, as well as viewable and readily retrievable data.
Zovy encompasses all of these regulations and more within our solutions to help the financial sector meet their heavy regulatory burdens.