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Toronto, Ontario, Canada, 2021/09/20 - AdvisorVault is now a certified Microsoft partner able to host Microsoft 365 apps for its customers and give them a Compliant WorkSpace in the cloud, By Allan Lonz, AdvisorVault.org.
For most small FINRA firms, technology has become a big mess. Stuck with an outdated email system that surely isn’t being archived as per 17a-4, they end up with data all over the place: on laptops, in the cloud and some saved on a server under the sink in the office kitchen. Also, trying to collaborate with everybody is a nightmare most the time and let’s not even mention security, viruses, or data protection.
This hodgepodge has turned into a dog’s breakfast, but for FINRA firms, the dog is a regulator who comes in and bites the compliance officer in the ass.
However, it’s important that firms understand that the Microsoft cloud, by default is not 17a-4 compliant. For example, out-of-the-box users can simply delete emails or data at any time, also records aren’t retained by Microsoft to meet the archiving demands of FINRA, security must be added, while connectors to other systems for archiving of third-party data such as social media must be properly configured by the D3P.
Compliant WorkSpace Designed for FINRA firms.
That’s why AdvisorVault has become a certified Microsoft Partner so now banks, broker dealers, hedge funds, investment advisors and private equity firms have a cloud option since all Office 365 apps are hosted through AdvisorVault, then archived to achieve the demands of SEC rule 17a-4. This includes Exchange Email, Sharepoint, OneDrive and Teams with connectors for LinkedIn company pages, Twitter, Facebook, Instant Bloomberg, Bloomberg Message, Salesforce, Slack and Zoom.
Also, Since AdvisorVault is the only certified Microsoft cloud partner with the 17a-4 Designated Third Party (D3P) certification, the Compliant WorkSpace includes the D3P service and the two 17a-4 third party notification letters.
The addition of the Compliant WorkSpace to AdvisorVault’s consolidated D3P service is great news for small FINRA firms. They now have an option to put all their technology on the Microsoft cloud. By hosting their email, data, security, archiving and e-Discovery with AdvisorVault, for one monthly fee, firms have total piece of mind now that data compliance is finally out of the doghouse.
AdvisorVault (advisorvault.org) is the only provider that helps small firms achieve today’s stringent data compliance requirements surrounding electronic records archiving and supervision. With our FINRA designated third-party status (D3P) we help our customers achieve 17a-4. For one flat monthly fee the service includes everything needed to ensure today’s audits are successfully passed. Complete piece of mind, out-of-the-box