Regulatory Compliance

LiveOffice's email archiving & email compliance solutions satisfy all regulatory requirements for the proper handling of email and instant message communications as set forth by the Sarbanes-Oxley Act, Gramm-Leach-Bliley Act, HIPAA, FRCP, SEC, FINRA and NYSE.

The Sarbanes-Oxley Act, commonly called SOX, sets forth records management and retention policies for all public companies. SOX was enacted in 2002 in response to corporate scandals involving large, public corporations, such as Enron and WorldCom and their accounting firms, and is currently law.

The Gramm-Leach-Bliley Act (commonly called GLB or GLBA) is also known as the Financial Modernization Act of 1999. The GLB Act includes provisions to protect all consumers’ personal financial information held by financial institutions.

HIPAA calls for national standards for electronic healthcare transactions and requires that organizations that deal with electronic patient healthcare information protect the security and confidentiality of that data.

The Federal Rules of Civil Procedure apply to any organization that has the potential to be involved in litigation in the U.S. Federal Court system. The amendments, which went into effect on December 1, 2006, mandate that companies be prepared for electronic discovery. The organization must know where their data is, how to retrieve it, how to meet data requests and they must determine what data will not be subject to search.

SEC Rules 17a-3 and 17a-4 set record retention standards for brokers/dealers. Rule 17a-3 spells out which records brokers/dealers must keep current, while Rule 17a-4 specifies how long those records must be kept. Rule 17a-4 was amended in 1997 to allow broker/dealers to store records electronically, including electronic communications and messaging such as email and instant messages.

The Financial Industry Regulatory Authority (FINRA) is the largest non-governmental regulator for all securities firms doing business in the United States. All told, FINRA oversees nearly 5,100 brokerage firms, about 174,000 branch offices and more than 672,000 registered securities representatives.

NYSE rules 342, 440, and 472 apply to the supervision and review of communications with the public. Member organizations should provide for appropriate supervision of the public communications of their registered representatives and other associated persons, consistent with their overall duty to supervise their employees.