Email Regulations covering FRCP, SOX, FINRA, SEC, NYSE, HIPAA and GLBA regulations

FINRA Email Regulations (NASD 3010 & NASD 3110)

The email regulations which involve FINRA are NASD 3010 and NASD 3011. Here’s a quick overview of each:

NASD 3010

• Procedures and policies put into place to supervise, review and sample registered representatives' electronic communication. Supervisors are required to have the ability to review outgoing email for noncompliant language.
• Documented records are required to show that supervisory procedures are being enforced.

NASD 3110

• All records should be retained in teh same format as SEC Rule 17a-4 (non-rewriteable, non-erasable, and time-stamped), and be retained for at least three years.

It’s important to note that in the first two years of the three-year requirement from NASD 3110, all email and Internet-based messaging need to be easily accessible.

Because of all these rules and regulations, using an outdated method like backup tapes will not work – a proper email archiving and compliance solution is essential for NASD 3010 & NASD 3110 compliance. The best email archiving vendors have solutions in place where archived emails can quickly and efficiently be produced.

Do the research, ask your potential email archiving vendor how their solution is in compliance with FINRA email regulations.