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Why You Should Worry About Rule 17a-4

Why You Should Worry About Rule 17a-4

17a-4

Last April we talked about how to comply with Rule 17a-4(f) under the Securities Exchange Act (SEA). But because many firms still aren’t correctly fulfilling the regulation’s requirements, we figured it’s time for an update.

The US Securities Exchange Commission, pursuant to its regulatory authority of the under the US Securities Exchange Act of 1934 (outlining data retention and accessibility requirements), issued Rule 17a-4(f) in 1997 requiring broker-dealers, who store records and required books in an electronic format, to comply with precise regulations. For example, part of the regulation states...

GDPR Countdown

GDPR Countdown

GDPR Countdown: 3 Months to Comply

May 25, 2018 is right around the corner.

If that date doesn’t ring a bell, we’re here to remind you again about the General Data Protection Regulation (GDPR) passed by the European Union in 2016.

If you do business with European companies or your business stores data about EU citizens, you have until May 25, 2018 to meet the necessary GDPR requirements surrounding data security and management.

Because this is a European law, much of the focus has naturally been on EU companies. But take note: Organizations outside of the EU are still governed by GDPR if they store data, offer services to or monitor the behavior of EU individuals. So if this applies to you in any way, shape or form—no matter how little EU data you have—you are required to...

5 Steps to Addressing a FOIA Request

5 Steps to Addressing a FOIA Request

Last month, we discussed what government agencies need to know concerning to a FOIA request (including the rules, regulations, and responsibilities you have to follow).

A FOIA request can be extremely broad or painfully precise; it’s all up to the person or entity requesting the information. But it’s something you must put at the top of your priority list, if one comes in, as any type of litigation or government-related work usually has a very...

FOIA 101 What Government Agencies Need to Know

FOIA 101 What Government Agencies Need to Know

At its core, the Freedom of Information Act (FOIA) gives individuals a legally enforceable right to access government information. Last year, there were more than 788,769 FOIA requests, and agencies are struggling to keep up (over 115,000 requests are...

How to Comply with Rule 17a-4

How to Comply with Rule 17a-4

In January, the Financial Industry Regulatory Authority (FINRA) released its 2017 Annual Regulatory and Examination Priorities Letter to inform firms about weaknesses in regulatory programs and ways they can strengthen “compliance, supervisory and risk management controls to protect investors, the markets and themselves.”

One area the letter pointed to was the failure of many firms to comply with Rule 17-a4(f) under the Securities Exchange Act (SEA), which “requires firms to...