This is pretty much for those working in the financial industry that's covered by the NASD/SEC regulations.
What do you do for your third party provider services? Do you know which companies offer this service? We're currently in the process of acquiring a different compliance/mailbox management solution (KVS is on the shortlist) after a failed implementation of iLumin. If you want to know why we're ditching iLumin, just ask, I'll give you the details. I've pasted below some info on the 3rd party provider services requirement that I pulled off our current outsourced provider's website. Thanks, Carmila ------------------------------------ The SEC's Designated Third Party (D3P) provisions under SEC Section 17a-4(f )(3)(vii) require that broker dealers exclusively using electronic storage for some or all of their data establish a relationship with a third party that has the ability to provide the SEC (or other securities regulators) with independent access to their electronic records. A designated third party is required to notify the SEC in writing that they intend to fulfill the D3P access and download service for the broker dealer. At the regulator's request, the D3P must provide access to the information that they need to download electronic records. What makes serving as a D3P tricky is that this access must be able to be provided with no assistance from broker dealer staff. The SEC's stated objective under the regulation is to assure that they have a third party that they can turn to if for any reason the BD cannot or will not provide the requested information. They have also indicated that the D3P must be familiar enough with the hardware and software used by the broker dealer to meet specific download requests. While many people think of D3P as relating to off site data storage, the SEC doesn't require you to escrow copies of your data files and software. While BDs may choose to put in escrow a current copy of all data files along with source code and documentation, this is not required under 17a-4. The only requirement under the regulation is that you, "Maintain, keep current, and provide promptly [to the regulators] all information necessary to access records and indexes stored on the electronic storage media." This email message may contain information that is confidential and proprietary to Babcock & Brown or a third party. If you are not the intended recipient, please contact the sender and destroy the original and any copies of the original message. Babcock & Brown takes measures to protect the content of its communications. However, Babcock & Brown cannot guarantee that email messages will not be intercepted by third parties or that email messages will be free of errors or viruses. If you do not wish to receive any further e-mail from Babcock & Brown, please send an email to [EMAIL PROTECTED] _________________________________________________________________ List posting FAQ: http://www.swinc.com/resource/exch_faq.htm Web Interface: http://intm-dl.sparklist.com/read/?forum=exchange To subscribe: http://e-newsletters.internet.com/discussionlists.html/ To unsubscribe send a blank email to [EMAIL PROTECTED] Exchange List admin: [EMAIL PROTECTED] To unsubscribe via postal mail, please contact us at: Jupitermedia Corp. Attn: Discussion List Management 475 Park Avenue South New York, NY 10016 Please include the email address which you have been contacted with.
