SEC 17a-4
Summary
SEC 17a-4 and NASD 3010 were enacted to protect investors from fraudulent or misleading
claims by securities dealers. SEC 17a-4 was amended in 1997 to provide procedures
for the storage of electronic records. 17a-4 and NASD 3010 apply to all individuals
and organizations involved in trading securities including securities firms, stock
brokerage firms and banks. Firms that have violated these regulations have faced
fines in excess of a million dollars.
The regulations require firms to implement specific, enforceable retention
procedures which include the following:
- Section 17a-4(f)(2) Archived messages must be time/date stamped and
serialized. Each message must be assigned a unique, sequential identification number
as a safeguard against tampering or deletion.
- While most of the NASD regulations are covered under 17a-4, Section
3010 requires that supervisors have the ability to review outgoing email for noncompliant
language such as a word guarantee.
- A searchable index must be maintained with the archive and be available
if requested by the regulators as spelled out in 17a-4(f)(3).
- SEC 17a-4 (f)(3) 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.
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