Themes & Channels
Jatheon Archives E-Mail Assets for Marquest
This is a Press Release edited by StorageNewsletter.com on Fri, June 20th, 2008
To comply with Canadian proposed draft regulation
“By the end of the year, many financial services firms in Canada will be legally required to archive their e-mail for at least seven years and deliver it promptly when requested by regulators,” said Kieron Dowling, president and CEO of Jatheon Technologies. “Marquest understands the risk, as well as the opportunities, this new law represents and is taking a very proactive approach to compliance. Marquest’s Jatheon solution promises to improve customer relations through better e-mail management while addressing all the storage and retrieval demands posed by the new law.”
Pam Moore, partner, operations for Marquest, said, “National Instrument 31-103 is part of the Canadian Securities Administrators’ ongoing efforts to increase administrative efficiencies and reduce regulatory burdens across Canada. The e-mail record keeping provisions also reinforce the relationship between investment companies and their clients by ensuring complete and accurate records are kept for all communications, including e-mail. The Plug n Comply appliance provides an extremely cost-effective solution that’s easy to implement and use.”
Marquest Covers its E-mail Assets
To comply with NI 31-103, Marquest upgraded its older-generation Jatheon solution to a Plug n Comply 1000 E, gaining more storage capacity and faster searches in the process. The upgrade process took less than a day; similar to the time it takes most organizations to initially deploy the plug-and-play appliance.
With the Plug n Comply 1000 E now in place, Marquest is able to store, index, retrieve, and monitor all inbound, outbound, and internal e-mail messages and file attachments in real time. All messages are checked against company-defined rules, with any violations flagged and brought to the attention of compliance officers.
As proposed, National Instrument 31-103 will apply to companies dealing in securities, advising in securities, and managing investment funds. The size of the financial services firm is immaterial, so a 10-person company will be held to the same e-mail record keeping requirements as a 1,000-person company. Understandably, small and medium size firms have expressed apprehension over their ability to meet the demands of the new law.
Marquest’s Moore continued, “I’ve talked with a number of companies who are concerned about the costs and complexities of meeting NI 31-103’s record keeping requirements. Others think their backup tapes will do the job, but backups are not complete records. Plus, anybody who’s retrieved an e-mail from backup tape knows retrieval is anything but prompt. Fortunately, Jatheon provides a real solution to compliance that doesn’t break the bank.”
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