Upcoming Events: FINRA and Gartner to Host Mobile Compliance Events

Members of the MobileGuard team will participate in the 2016 Gartner Security and Risk Management Summit in Washington DC as well as the FINRA Annual Conference in the next month.

The Gartner Security and Risk Management Summit, June 13-16, provides attendees with the tools and training needed to maintain cost-effective security and risk programs that support digital business and drive enterprise success. MobileGuard is enthusiastic about the opportunity to help educate and inform CIO’s, CISO’s, senior IT professionals as well as Chief Compliance Officer’s and risk management officials.

Additionally, MobileGuard will be attending and exhibiting at the annual FINRA Annual conference in Washington DC on May 23rd and 24th. The FINRA event focuses on financial services and the risk management compliance challenges modern enterprises face.

“These are two signature events very important to our industry,” said MobileGuard Founder and President, Todd M. Cohan. “MobileGuard will be available to discuss the many facets of mobile compliance and how our suite of products ensures compliance for the mobile workforce today.”

Each of these venues provides MobileGuard a great opportunity to educate IT and compliance professionals on the challenges of employing a diverse mobile arsenal. From text message archiving and secure messaging to mobile call recording and effective mobile device management, Company staff will serve as resources during the events. “We have seen extraordinary activity around supporting text message archiving to satisfy public records, and Freedom of Information Act requests for all levels of government,” added Mr. Cohan.

Other upcoming Mobile Compliance Events include:
Washington Tech Summit
June 22, 2016
Topics include: Solving the dilemma of BYOD compliance

Compliance Week 2016
May 23-25, 2016
Washington DC

CISO Executive Summit
October 17-19, 2016
Skytop, PA

Everyone Would Abuse a backdoor in a Mobile device

iPhone Monitoring

Everyone would abuse a backdoor in a mobile device

The Government wants backdoor access to our devices so that it can protect us from terrorists and defend matters of national security. Even if its intentions are good, there are people out there that would abuse such a feature, security professionals attending the RSA conference agree.

NetGuard by MobileGuard-A Network-based Mobile Compliance Solution

MobileGuard, a pioneer in mobile archiving and compliance, has expanded its compliance solution capabilities. NetGuard uniquely enables text message archiving on iPhones, Android, Blackberry and Windows devices without the need for any app or virtual number, making NetGuard a one of a kind archiving system. Additionally, NetGuard provides seamless integration with your MDM solution to create a unified mobile compliance solution.

NetGuard, integrates at the wireless carrier tier, allowing enterprises to deploy iPhones, among other devices capable of sending and receiving text messages. Once devices are provisioned, each user leverages the native text messaging apps on those devices and the SMS and MMS messages are archived. The solution is a comprehensive compliance solution for Government, Financial Services and Enterprise that provides unified, device independent, real-time monitoring, alerts, capture, archival and analysis for any mobile device.

Patented Archiving Solution
– Capture SMS and MMS messages on iPhones and other mobile devices
– No app install is required

– Easy provisioning via text message

– Conversation threading available

– Cloud-hosted and on premise deployment options available

– Compliant offering for financial and government sectors– Capture SMS and MMS

“Closed-System Architecture“ Solution
NetGuard provides users a solution to archiving SMS and MMS messages sent and received from devices operating with a Closed-System Architecture”. NetGuard is the only solution on the market with the ability to capture messages from Apple’s “Closed-System Architecture” operating system (iOS). Similarly, NetGuard can capture messages from Windows operating system. MobileGuard’s patented IP and global partnerships help provide the NetGuard service for iPhone and other devices giving clients a complete solution for monitoring, capturing and supervising text messages. SMS and MMS messages are identified, collected, and archived in a format that is easily accessible, allowing companies to establish meaningful internal compliance policies. MobileGuard’s NetGuard solution ensures all mobile devices meet compliance mandates from relevant regulatory bodies using a universal platform that works with all of your companies Android, iOS, Blackberry and Windows mobile devices.

Cloud Based or On-Premises Storage
Whether using company-owned or BYOD, the MobileGuard team of development engineers will lead your company through specific requirements, customizations and implementations to give your organization a robust and complete mobile compliance solution within days. MobileGuard’s mobile electronic communication compliance solutions are provided as “On-Premises” or cloud solution depending on the size of the population.

For added security, MobileGuard offers an On-Premises solution where archived messages are sent from the carrier level directly to a companies on-sight servers providing additional safeguards for data and privacy protection. Many large organizations (over 200 devices) in the financial services industry and in government have opted to use this technology for additional mobile security.

Advisors: Is Your Texting Compliant?

Text messaging has become an extremely popular way to communicate. According to Pew Research, the average person receives 41.5 text messages a day compared to just 12 phone calls. Young adults are much more avid texters, sending an average of 109.5 messages per day, which suggests that this form of communication will only become more widespread.

Financial advisors can’t ignore text messaging as a critical form of communication with clients, but compliance can be a lot more challenging since texting is harder to supervise, monitor, and archive. After all, text messages can take place via traditional SMS or via phone-specific platforms like Apple’s (AAPL) iMessage and Google (GOOG) Android’s Hangouts. These messages can also be sent across different devices, such as from a laptop or desktop computer to a mobile phone.

Let’s take a look at how the law reads and check some steps that financial advisors can take in order to ensure that they’re in compliance. (For related reading, see: Top Compliance Headaches for Financial Advisors.)

Interpreting the Law
NASD Conduct Rule 3110 and Section 17(a) of the Securities Exchange Act of 1934 require brokers and financial advisors to establish and maintain a system to supervise the activities of its associates that is responsibly designed to achieve compliance with applicable securities laws.

In particular, Rule 3110 mandates the review of incoming and outgoing electronic correspondence and internal communications relating to the member’s investment banking or securities business. Section 17(a) further mandates that broker-dealers maintain records for at least three years, including original communications received and copies of all communications sent by members, brokers, or dealers relating to his or her business.

In 2014, the SEC charged several affiliated brokerage firms with failing to retain and supervise text messages sent or received by certain associated persons. The errors resulted from a faulty configuration of the BlackBerry Enterprise Server and the firm ended up paying a $275,000 fine. These problems could have been avoided by having the proper systems in place to ensure that text messages were securely archived for future reference. (For related reading, see: Compliance: The Price Companies Pay.)

Technology Solutions
The easiest way to ensure compliance with these laws is to manually archive all electronic communications by using company-approved devices. Some business smartphone makers such as BlackBerry provide enterprise software solutions to archive communications. The problem is that these solutions require that employees use a company smartphone to conduct work; many workers would rather use—and do use—their personal phone.

There are a growing number of technology solutions designed to make mobile compliance a lot easier for businesses. By archiving messages, financial advisors can ensure that they’re complying with Rule 3110 and proactively ensuring that e-discovery is easier in the event that problems occur. Many of these solutions also support bring-your-own-device (BYOD) policies and operate across multiple platforms, including Apple, Google, and Microsoft (MSFT).

MobileGuard and MobileIron are just two of many companies that offer SMS archiving, mobile voice recording, and secure messaging services delivered as a cloud-based or on-premises service. While these solutions can be somewhat expensive and time consuming to implement, they are significantly less than the fines that would be incurred for non-compliance, as well as any added costs associated with discovery during a lawsuit requiring text information.

The Bottom Line
Text messaging as a way to communicate between clients and financial professionals is growing in popularity, especially among the younger generation, which makes compliance even more important. With numerous securities regulations mandating the review and archiving of text messages, financial advisors should have the processes in place to ensure that they’re in compliance and following best practices. The good news is that there’s a lot of software out there that can help make the process easier for financial advisory firms. (For related reading, see: SEC Audits: What Financial Advisors Should Look Out For.)

This article was written by Justin Kuepper for investopedia.com

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