E-mail Archiving Selecting a Vendor Service

Background and Client Challenge:

C&A has conducted this analysis on behalf of registered financial services clients who wish to implement email archiving as required under Investment Advisor SEC Rule 204-­‐2. Rule 204-­‐2 covers record keeping requirements for the investment advisor. From a broad prospective, the client must:

  • Arrange and index the records in a way that permits easy location, access, and retrieval of any particular record.
  • Provide promptly any of the following:
    • A legible, true, and complete copy of the record in the medium and
      format in which it is stored;
    • A legible, true and complete printout of the record; and
    • Means to access, view, and print the records; and separately store, for the time required
    • Maintain and preserve the records, so as to reasonably safeguard them from loss, alteration, or destruction.
    • Limit access to the records to properly authorized personnel.

The scope and objective of the vendor selection process is to ensure that the preferred provider meets or exceeds the requirements described in the e-­‐mail archiving RFI.

Solution:

The requirements for e-­‐mail archiving were organized into several categories, as follow:

  • Capturing electronic communications
  • Search engine
  • User experience – Compliance Department and end user
  • Administrative Control Panel/Retention
  • Technology
  • E-­‐discovery
  • Reporting
  • Service Quality Support

Results of Comparative Analysis:

C&A determined that one vendor in particular offered the technical capabilities and service quality expected by the client. The rationale for our recommendation was based on satisfying a set of business and technical requirements identified by the client with C&A and summarized above.