Including sophisticated surveillance, retrieval, and the remedial process components within our compliance solutions, AXS-One enables financial services firms to continue their regular methods of conducting business, while making it easier for them to meet compliance demands and reduce liabilities arising from improper or misleading communications and corporate content management.

Financial Services Regulations

SEC 17a-4 (17CFR 240.17a-4): It specifies communications compliance and covers e-mail, attachments, memos and instant messaging as well as phone conversations. The SEC requires several stipulations for example storage must be non-rewriteable, non-erasable format.

Gramm-Leach-Bliley Act (GLBA): The Guidelines define "customer information" as any record containing a customer's nonpublic personal information, whether in printed, electronic or other form. They require each institution to implement a written information security program that includes administrative, technical and physical safeguards appropriate to the size and complexity of a bank, as well as the nature and scope of its activities.

Patriot Act: Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act of 2001 requires the Secretary of the Treasury to jointly prescribe with the Securities and Exchange Commission a regulation that, at a minimum, requires broker-dealers to implement reasonable procedures to verify the identity of any person seeking to open an account, to the extent reasonable and practicable; maintain records of the information used to verify the person's identity; and determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the broker-dealer by any government agency.

Sarbanes-Oxley: As directed by Section 302(a) of the Sarbanes-Oxley Act of 2002, rules require corporate officers to certify that: they are responsible for establishing, maintaining and regularly evaluating the effectiveness of the issuer's internal controls; they have made certain disclosures to the issuer's auditors and the audit committee of the board of directors about the issuer's internal controls; and they have included information in the issuer's quarterly and annual reports about their evaluation and whether there have been significant changes in the issuer's internal controls or in other factors that could significantly affect internal controls subsequent to the evaluation.

Office of Foreign Asset Control (OFAC): Because of the current level of electronic compliance programs in the financial community, it is more likely now than ever that violations by the securities industry will come to the attention of OFAC.

Bank Secrecy Act: The Bank Secrecy Act (BSA), enacted in 1970, authorizes the Secretary of the Treasury to issue regulations requiring that financial institutions keep records and file reports on certain financial transactions. More than 220,000 financial institutions are currently subject to BSA reporting and recordkeeping requirements, including depository institutions (e.g., banks, credit unions and thrifts); brokers or dealers in securities; money services businesses (e.g., money transmitters; issuers, redeemers and sellers of money orders and travelers’ checks; check cashers and currency exchangers); and casinos and card clubs.