With the significant downturn in the economy, financial institutions are exploring every avenue available to them in order to cut costs while still complying with SEC rules regulating the financial services industry. Cutting back on technology or IT expenses has traditionally been one of the first ways corporations decreased expenses, however, SEC Rule 22c-2 of the Investment Company Act is making many financial institutions think twice about what alternatives might be available to them when complying with this federal regulation.
This Securities & Exchange Commission regulation has set out strict instructions on the dissemination of shareholder identity and transaction information as well as how they handle and store shareholder data and investment requests. As a result, all financial institutions must now alter their internal IT systems to be able to store and easily and quickly retrieve all electronic communications. Our 123Together.com hosted archiving solution provides a financially viable solution to meet these requirements and enables companies to still control costs. Our hosted email repository provides for one central location for all data which can be archived and accessed through al secure web-based interface. Archiving as a hosted service removes the need for large initial capital outlay, increased IT overhead, and the requirement to meet meet SEC deadlines.
Burlington, MA, October 9, 2007 - 123Together.com, the leading provider of hosted enterprise-class messaging and collaboration solutions such as Microsoft Exchange Hosting and Hosted SharePoint, offers a hosted archiving solution to allow financial institutions to comply with Securities & Exchange Commission (SEC) regulations associated with Rule 22c-2 of the Investment Company Act of 1940.
Rule 22c-2 of the Investment Company Act of 1940 applies to the dissemination of shareholder identity and transaction information pursuant to shareholder information agreements. The deadline by which firms must be able to request and promptly receive shareholder information is October 16, 2007. In order to comply with the SEC regulations, investment firms must also revise their systems to accommodate the request, provisioning, and use of shareholder information.
123Together.com’s Hosted Exchange Server Archiving solution is designed to help financial institutions in their efforts to meet the regulatory demands placed on their electronic communications systems. At the same time delivering a security-enhanced and virtually tamperproof archiving solution for email, allowing companies regulated by the SEC to store and retrieve communications as they strive to comply with the data and transaction demands of this regulator.
This centralized multitasking mail repository is deployed in a hosted environment. Once archived, messaging can then be accessed through a security-enhanced, web-based interface. Flexible search queries can be used to locate messages quickly. Upon retrieval, users can conduct a variety of actions, including tag, file, export, forward via SMTP, and restore.
“Our hosted archiving solution provides financial institutions with a financially viable solution to meet the regulatory requirements of the SEC. It eliminates up-front capital investment, frees up IT resources to focus on other tasks and allows them to quickly become compliant with SEC imposed deadlines,” said Ravi Agarwal, chief executive officer of 123Together.com. “Companies may utilize our hosted Exchange solution but are not required to do so to take advantage of our archiving services. They can leverage this service with their in-house Exchange server or with a POP3/SMTP setup - all without installing or managing any new hardware or software on their server.”
About 123Together.com
123Together.com, a Microsoft Gold Certified Partner, is a leading provider of hosted enterprise-class messaging and collaboration solutions including Microsoft Exchange Hosting. Among its offerings are shared and dedicated Microsoft Exchange Servers, Windows SharePoint Services , and full support for mobile device integration services such as Blackberry Enterprise Server, Good Messaging and ActiveSync/Windows Mobile. Customers also receive free Outlook 2007, live 24×7 U.S.-based phone and email support, advanced spam and virus filtering, and a 100% uptime guarantee for dedicated servers. A 30-day no obligation trial is available. Additional information can be found at http://www.123together.com/.
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Contact Info:
Lisa Masiello
123Together.com
781-273-6245 x652
pr@123together.com
