Financial Services Compliance Requirements

Regulatory compliance is a complex and expensive endeavor, and the burden is the same for large and small institutions alike. The resources that companies have at their disposal to comply with the ever-growing demands of regulators and to defend against the myriad vulnerabilities inherent in data security, however, vary wildly. That’s why Awareness Technologies has focused its development on delivering managed solutions that lift the burden of compliance and security off of the shoulders of the organizations themselves.

Sarbanes Oxley Act (SarbOx)

The legislation set new or enhanced standards for corporate accounting practices. The act contains 11 titles, or sections designed to increase the stringency of the guidelines that accounting practices must conform to. The act also covers issues such as auditor independence, corporate governance, internal control assessment, and enhanced financial disclosure.

Gramm-Leach-Bliley Act (GLBA)

The "Gramm-Leach-Bliley Act" or GLBA, also know as The Financial Modernization Act of 1999, includes provisions to protect consumers’ personal financial information held by financial institutions. GLBA contains several stipulations that increase the data security requirements of all financial services institutions. The three principal parts to the privacy requirements: the Financial Privacy Rule, Safeguards Rule and pretexting provisions.

Regulation S-P (Reg S-P)

An extension of GLBA, Regulation S-P details the rules regarding the requirements and restrictions on a financial institution's ability to disclose nonpublic personal information about consumers. The SEC is currently reviewing the rules in light of the increasing number of security breaches. In a move that demonstrates growing regulatory requirements in general, the SEC’s proposed amendments would expand the rule’s areas of coverage to include additional types of information that must be protected, and well as increasing the overall scope of who must comply.

Federal Rules of Civil Procedure (FRCP)

The FRCP govern the court proceedings for civil trials. The rules cover elements of disclosure, and mandate that financial institutions must be able to provide electronically stored information relevant to a civil case.

Unparalleled Solutions for Financial Services)

Awareness Technologies has developed solutions aimed at removing the cost and complexity of addressing the compliance and security of financial institutions of all sizes. By delivering technologically elegant solutions in a SaaS form factor, Awareness Technologies has positioned itself as an ally in the quest to secure companies’ sensitive data across the entire organization – both on and off the network – as well as meeting the requirements of regulatory compliance. ATI solutions are trusted by over 10,000 companies world wide to provide an unparalleled level of visibility and control over sensitive data. For more information on the specific solutions that ATI offers, Click Here.