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Financial Services
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The Financial Services Market

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Information and to Get Started
New York Life Insurance CompanyMassMutual Financial Group

 

In the financial services marketplace, information security, reliable record keeping and regulatory compliance are core elements of a solid financial foundation. The protection and security of information is necessary to build customer trust, maintain compliance with the law and protect the company reputation. MuniMetriX Systems provides affordable, easy-to-use Electronic Document Management (EDM) System that assists financial institutions with:

 

  • Maintaining information security, confidentiality and customer privacy.
  • Tracking system activity and information disclosures for enhanced compliance and accountability.
  • Preserving the accuracy and reliability of the document archive.

 

 

SEC 17 Compliance
AIIM study results state financial service
companies identified improved compliance,
increased productivity and increased customer
satisfaction as the three most important
potential benefits of EDM systems.

 

The U.S. Securities and Exchange Commission (SEC) Rules 17a-3, 17a-4 and 17ad-7 were implemented under the Securities Exchange Act of 1934 and outline records archiving rules for the securities industry. In years past, these SEC rules covered only paper records, but today, they include electronic documents as well.

 

Most members of the national securities exchange, brokers, dealers and businesses in the securities industry must comply with SEC 17. The regulations specify which documents should be stored, including securities sales records, ledgers reflecting assets and liabilities, securities borrowed or loaned, dividends and interest received and more. Retention schedules and document management requirements are also part of the regulation.

 

Originals of all business communications and copies, whether by paper, by email or through audit reporting, must be indexed, easily searchable and stored on unalterable media. Additionally, securities companies are required to ensure the accessibility, security and integrity of their records. The SEC may examine a business' document management system for compliance, and violators can face stiff penalties, which can include millions of dollars in fines. As a result, companies need systems that:

 

  • Preserve all business records on a non-rewritable, non-erasable media.
  • Maintain searchable and readily available document storage.
  • Verify the accuracy of their archiving system and document management processes.

 

 

EDM Enables SEC 17 Compliance

 

MuniMetriX Systems Electronic Document Management (EDM) technology provides comprehensive document storage and management capabilities that enable SEC 17 compliance and enhance operational efficiency. Brokers, dealers and securities companies use ImageSilo®, the on-demand EDM service and PaperVision® Enterprise to address SEC 17 regulations, reduce records management costs and increase productivity. In fact, they prefer MuniMetriX Systems' technology because it allows the choice between managing information on-premise or on-demand and offers additional components like email management, workflow and print stream processing.

 

 

System Auditing and Compliance

"We had wanted to go paperless for ten to
fifteen years, but it was too expensive. We
kept shopping for document management
software until we found PaperVision®
Enterprise. It has made our transition an
affordable one that was easy to implement.
In addition, PaperVision Enterprise allowed
us to trade administrative expenses for
revenue generating investments."


- Hawley MacLean, MacLean Financial Group

 

The Sarbanes-Oxley Act, Gramm-Leach Bliley Act and other laws require companies to monitor disclosures, explain how customer information is shared and validate internal security controls and compliant procedures. ImageSilo® and PaperVision® Enterprise product suites enable companies to securely share information, confirm system settings and provide evidence of system usage.

 

  • Document history reports provide detailed records of all documents that are accessed by a user and track activity for increased accountability with financial reporting processes.
  • Email management provides non-repudiation to verify message integrity and display only the originally captured version of an email message.
  • Enhanced auditing allows users to share information only with those on a pre-approved list and records all disclosures.
  • Document grants allow customers secure, web-based access to documents for a specific time period.
 
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MuniMetriX Systems Corporation, 1575 Delucchi Lane, Suite 223, Reno, Nevada, 89502-6582