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U.S. Securities and Exchange Commission (SEC) Rules 17a-3, 17a-4 and l7ad-7

Under the Securities Exchange Act of 1934, U.S. Securities and Exchange Commission (SEC) Rules 17a-3, 17a-4 and l7ad-7 outline the record archiving rules for the securities industry. SEC 17 specifies which documents need to be stored, including sales records, ledgers reflecting assets and, liabilities, securities borrowed or loaned, dividends and interest received and retention schedules. These files must be stored on unalterable media, indexed, easily searchable for three years from origination.

Failure to comply with these rules can result in millions of dollars in fines.

“In response to a cited email archiving violation of SEC 17a-4, five of the largest investment banks in the world (Goldman, Sachs & Co., Citigroup Inc.’s Salomon Smith Barney, Morgan Stanley & Co., Deutsche Bank Securities Inc. and U.S. Bancorp Piper Jaffray Inc.) have agreed to pay a fine of more than $8 million.” – The Wall Street Journal

The Solution: Enterprise Content Management (ECM) with ECMNOW! This system allows those in the securities industry to…

1. Efficiently Store, Locate, and Distribute Information: ECMNOW! provides you with state-of-the-art imaging technologies and efficient search capabilities that simplify records retrieval.

2. Maintain Control over Documents: ECMNOW! allows you to not only boost controls, but also implement audit tracking while preserving data integrity.

3. Save Money by Reducing Document Management Costs: ECMNOW! allows you to cut costs with the cloud ECM, ImageSilo, by avoiding capital investments in hardware, software, or IT resources.

If you would like to learn more about ECMNOW! please contact Micro Records Company, Inc. by calling 877-410-SCAN or visit! ECMNOW! is available exclusively through DigiTech Systems resellers, like Micro Records.

Micro Records Company has been providing quality document conversion and full records management solutions to our diverse client base, which includes government, insurance, utilities, education, legal, hospitals and banks since 1964.

We use the latest technology to ensure our clients receive the highest quality records management solutions.

You can also follow us on FacebookTwitterLinkedInGoogle+, and YouTube as well!

This entry was posted on Friday, January 18th, 2013 at 6:42 pm. Both comments and pings are currently closed.