Comprehensive record keeping is the basis of all compliance requirements. Records of all services, activities and transactions must be kept for up to 7 years. This includes intended transactions, even if the transactions didn’t conclude. If you are like our other customers, your data might currently be scattered across many places.
What is meant by records is very wide-ranging: orders, trades, phone calls, mail, faxes, email, instant messages, documents, sales and marketing research, even meeting minutes. This breadth of records would be challenging enough. But it doesn’t end there. The regulations require firms to store all these records in tamper-proof Write Once, Read Many (WORM) immutable form. Plus firms need to be able to retrieve any and all records that the regulator might request within 72 hours.
The burden and risks these regulations create for firms is huge, and it falls to the compliance to manage. We created the SteelEye Locker TM to save our customers time, money and headaches managing these requirements. With
SteelEye Locker TM, your data will be written to an immutable disk and stored securely in one place.
Instant search and retrieval via your browser-based dashboard mean that if a regulatory request were to arrive, you’ll be in great shape. It’s a simple interaction to extract and report whatever has been request to your NCA. Click here to arrange a demo to see how SteelEye can save you from compliance headaches.