Investment Advisors Act of 1940
Summary
The U.S. Securities and Exchange Commission (SEC) has recently imposed new regulations
on private investment pools, also known as hedge funds. The SEC requires hedge fund
managers with assets in excess of $25 million to register under the Investment Advisers
Act of 1940. The ruling requires that most hedge fund advisers register with the
SEC under the Investment Advisers Act of 1940, which includes provisions for securing,
managing and archiving all electronic communication.
The amendments introduce the phrase “electronically stored information” to Rules
26(a)(1), 33, and 34, to acknowledge that electronically stored information is discoverable.
The expansive phrase is meant to include any type of information that can be stored
electronically. It is intended to be broad enough to cover all current types of
computer-based information, and flexible enough to encompass future changes and
technological developments.
Key regulatory requirements include:
- Archived messages must be stored in duplicate. One copy must be stored
in an online archive, and a second copy must be stored offline on permanent, tamperproof
media, such as Write-Once-Read-Many (WORM) technology.
- Storage media must be verified automatically for quality and accuracy.
- Archived messages must be date/time-stamped and serialized. Each message must be assigned a unique, sequential identification number as a safeguard against deletion.
- A searchable index of all stored data must be maintained. Indexes must be retained on each unit of storage media for the messages and attachments stored on that unit.
- Messages and indexes must be easily retrievable and downloadable to other media as required by SEC regulators.
MobileMandate Key Benefits
MobileMandate is designed to support the the flow of text messaging, pin to pin,
and BlackBerry® Messenger througout your organization. Our intuitive user interface and advanced reporting capabilities provides yor team
with the ability to get the job done quickly, effectiviely, and efficiently.
Effective Management
- Ensure every SMS message passing through your organization is archived
and readily available
Collaboration
- Create roles and responsibilities for managing mobile messaging
Proactive Platform
- Build reports to find policy breaching events like wall crossing
and receive alerts when those breaches happen
Evidence Supervision
- Provide complete workflow audit trails of who has acted upon any
message
Automation
- Automate email and reports engaging users to assist with supervision
Security
- Secure hosted content with full disaster recovery