NEW YORK, NY--(Marketwired - Jun 28, 2017) - Archive360 , Inc., announced today that its Archive2Azure™ managed compliance storage solution for the Microsoft Azure cloud platform has met the standards set forth by the U.S. Securities and Exchange Commission, Rules 17a-3 and SEC 17a-4 as determined by the Washington DC Law Firm of Wiley Rein LLP in a newly released legal opinion. This capability will enable financial services organizations to fully use the Azure cloud platform in full compliance with SEC record preservation regulations.
The U.S. Securities and Exchange Commission, pursuant to its regulatory authority under the US Securities Exchange Act of 1934, outlines requirements for broker-dealers and others to store records in electronic form. Under Rules 17a-3 and 17a-4, electronic records must be preserved exclusively in a non-rewritable and non-erasable format (WORM). Rules 17a-3 and 17a-4 further mandate that financial services organizations employ a storage system that prevents alteration or erasure of records for different retention periods. (Learn more here: https://www.sec.gov/rules/interp/34-47806.htm )
The SEC regulations provide prescriptive guidelines on how select data is captured, stored, accessed, retained and disposed. Archive2Azure ™ has been verified to meet the following SEC requirements:
- Preserve records exclusively in a non-rewriteable, non-erasable format (i.e., WORM - write-once, read-many);
- Automatically verify the quality and accuracy of the storage media recording process;
- Serialize the original and, if applicable, duplicate units of storage media, and time-date for the required period of retention the information placed on such electronic storage media;
- Provide the capacity to readily download indexes and records preserved on the electronic storage media to any medium;
- Audit requirements; and
- Data encryption (in transit and on-disk).
"In the past, financial services organizations had no choice but to keep their on premises e-mail archive systems active to maintain their official books and records such as trade confirmations and email journals in WORM storage, even though they had already migrated their live email systems to the cloud," said Bill Tolson , Vice President of Marketing, Archive360 . "With Archive2Azure, financial services organizations now have the capability to move their books and records (email journal) to a WORM-capable, SEC-compliant Microsoft Azure cloud platform repository, which in turn allows them to eliminate the necessity and expense of maintaining their previously unavoidable on premise archive and WORM storage."
"Microsoft is committed to collaborating with solution providers that help our customers meet their IT, business, legal and regulations requirements. We are delighted to deepen our relationship with Archive360 and look forward to working with them to help ensure our financial services Microsoft Azure customers enjoy the cloud platform with the largest compliance portfolio in the industry," said Tad Brockway, GM, Azure Storage, Microsoft.
About the Legal Opinion The legal opinion was authored by Wiley Rein attorneys, Kevin B. Muhlendorf and Matthew J. Gardner. Mr. Muhlendorf has served as Senior Counsel in the Enforcement Division of the SEC with firsthand knowledge and insight into this agency's operations and processes. Mr. Gardner's practice includes civil government enforcement actions, managing internal investigations regarding data breaches, and providing advice and litigation assistance on cybersecurity issues. Both Messrs. Muhlendorf and Gardner have served as federal prosecutors in their respective practice areas and possess practical experience in complex investigative and enforcement matters.
Wiley Rein is a dominant presence in Washington, DC, with more than 240 attorneys and public policy advisors representing clients in complex, high-stakes regulatory, litigation and transactional matters. Many of the firm's attorneys have held high-level positions in the White House, on Capitol Hill, and in federal agencies including the Securities and Exchange Commission (SEC) which administers compliance.
You can access the full legal opinion from Wiley Rein LLP from this page .
About Archive2Azure Archive360's Archive2Azure ™ is a managed compliance storage solution for Azure. It is the solution allowing for complete elimination of legacy on premise email archives and other low touch or 'grey' data including inactive employee work files and PSTs, file system content, system generated data, data from application retirement, and data sets generated form eDiscovery. Archive2Azure ™ delivers long-term, secure retention and management of low touch unstructured data, including journal email for regulatory compliance.
The Archive2Azure ™ information governance API controls and enforces the creation, storage, retrieval and retention management of data objects. The application offers a secure storage platform that satisfies the regulatory compliance requirements of SEC 17 Rule a-3 and 17a-4. Additionally, Archive2Azure not only offers WORM compliant storage capability, but also includes retention/disposition policies to enforce corporate data management policies.
To learn more about Archive2Azure™, the WORM compliant managed cloud archive for Azure, please visit http://www.archive360.com/azure-compliance-storage/ .
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About Archive360 Archive360 is the world's leading provider of data migration and management solutions for the Microsoft cloud. Since 2012, Archive360 has securely migrated data into the Microsoft cloud with record-breaking speed, verifiable data fidelity and legally defensible chain of custody. Archive360's Archive2Azure ™ solution is the compliance and unstructured data storage and management solution based on the Microsoft Azure platform. Archive360 is a global organization that delivers its solutions both directly and through a worldwide network of partners. Archive360 is a Microsoft Cloud Solution Provider and the Archive2Azure ™ solution is Microsoft Azure Certified. To learn more, please visit: www.archive360.com .
Copyright ©2017. Archive360 is a registered trademark and Archive2Anywhere, Archive2Azure and FastCollect are trademarks of Archive360, Inc.
PR Contacts: Nicole Gorman The Ventana Group, for Archive360 (508) 397-0131 Email Contact Sabrina Sanchez The Ventana Group, for Archive360 (925) 785-3014 Email Contact
