Archive360 intros Solution to Help Ensure Financial Services Regulatory Compliance on Microsoft Azure Platform

Archive360, Inc., announced 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.

The SEC regulations provide prescriptive guidelines on how select data is captured, stored, accessed, retained and disposed. Archive2AzureTM 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).