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For the fourth consecutive year, Smarsh surveyed individuals in financial services with direct compliance supervison responsibilities. The report summarizes challenges including more electronic communications tools at work and difficulty to meet compliance obligations. To mearn more about our archiving solution for financial services, visit our website: http://www.smarsh.com/broker-dealer-compliance.
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THE
TROUBLEWITH TEXT
MESSAGING
2014 ELECTRONIC COMMUNICATIONS COMPLIANCE SURVEY
Responses fielded from January–February 2014
31-question online survey
283 respondents
Topics included:
• Confidence in compliance policies and enforcement
• Polices and use of different communication types
• Policies and use of different communications devices
• Examination incidence and expectations
• Supervision and archiving practices
• Confidence in message supervision
For the fourth consecutive year, Smarsh surveyed
individuals in financial services with direct compliance
supervision responsibilities.
Download the full report at:
www.smarsh.com/2014compliancesurvey
Firms allow nearly twice as many
different electronic messaging
platforms today as they did in 2011
and a compliance gap remains for
systems for retention and supervision.
MORE ELECTRONIC COMMUNICATIONS TOOLS AT WORK…
Failure to meet electronic messaging compliance
obligations was the No. 1 source of FINRA fines in 2013.
* Sutherland FINRA Focus
THE
ELEPHANTIN THE ROOM
percent of firms issue at least one type of smartphone or tablet to employees
TEXT MESSAGING POLICY LAGS
Despite the clear interest and widespread availability of text messaging, it is not receiving the same level of attention from compliance departments as email or social media.
More than 2/3 of the firms that allow text messaging do not have a solution in place for retention and oversight!
MIND THE GAP
Lack of supervision/retention leads to low confidence in text/SMS messaging compliance
AS A RESULT, CONFIDENCE LAGS
There is even lower confidence in iMessage supervision.
THE iPHONE PROBLEM
POLICY-TRAINING-ENFORCEMENT CONSIDERATIONS
• Gather your stakeholders
• Corporate Issued vs BYOD
• Which devices, which networks?
• Which messaging apps?
• The comprehensive approach to messaging compliance
THE
TECHNOLOGYSOLUTION
With the Smarsh Archiving
Platform text, SMS and
iMessages are captured from
virtually every device.
MOBILE ARCHIVING FROM SMARSH
• App Capture
• Network Capture
• iTunes Capture
• BES Capture
FLEXIBLE CAPTURE OPTIONS
CAPTURE SETUP & PROVISIONING
• Which method of capture can be
customized to suit your company’s
mobile devices and networks.
• Whichever method is leveraged, the
install is simple for the end user.
• We have a solution for most devices and
mobile networks.
• Regardless of capture, it flows into our
integrated Smarsh Archiving Platform.
EMAIL I IM I SOCIAL I MOBILE I WEB I VOICE
Enable a unified compliance and e-discovery
workflow across your content types, including
social media, email, instant messaging, mobile
messaging and web content.
ARCHIVING PLATFORMTHE
SEARCHE-discovery, Monitoring & Supervision
REVIEWWorkflow, Queues
POLICIESAutomated Policy Engine, Retention Policies
CASES / EXPORTSPersistent & Sharable Results, Exports
REPORTS/ANALYTICSDashboards, Analytics
ADMINIdentities, Groups, Permissions, Roles
BUILT FOR COMPLIANCE & E-DISCOVERY
Q&AIf you’d like more information about mobile archiving from Smarsh,
please visit: http://www.smarsh.com/mobile-archiving-solutions
Or email us at [email protected]
