Shareholders Services Group Inks Deal with Global Relay
July 4, 2007 - Shareholders Service Group has entered into an agreement with Global Relay to offer independent registered investment advisors using the services of SSG easy access to substantial discount pricing for Global Relay services. Global Relay specifically developed its messaging technology to meet the SEC Investment Advisor Act Rules 204- 2 & 206(4)-7 in connection with electronic business communications.
Shareholders Service Group (SSG), a brokerage firm and custodian exclusively serving independent registered investment advisors, today announced an agreement with Global Relay, a provider of electronic compliance archiving services, offering independent registered investment advisors using the services of SSG easy access to substantial discount pricing for Global Relay services.
Investment advisors are mandated by the SEC to preserve electronic business records (such as email and instant messages) in a secure, but accessible electronic storage system. Supervisory policies and procedures to monitor all business related electronic communications to the public must also be maintained. Global Relay specifically developed its messaging technology to meet the SEC Investment Advisor Act Rules 204- 2 & 206(4)-7 in connection with electronic business communications.
"Storage of electronic communications has become an integral and necessary function for any independent registered investment advisor conducting business today," says Peter Mangan, president and CEO of Shareholders Service Group. "Through our agreement with Global Relay, we're able to offer a great solution to meet these compliance requirements." Global Relay is the service SSG uses for its own message archiving.
Advisors who subscribe to Global Relay's services will receive several electronic archiving features, including:
SSG and Global Relay
- Fully managed solution requiring no hardware, software or other infrastructure costs
- Rapid and seamless activation of services by Global Relay
- Instant access to email, IM and attachments for retrieval and monitoring via any web browser
- Setup and online training for compliance officers
- Turn-key message monitoring system
- In-house legal and compliance team with full audit support and audit tools
- Disaster recovery and business continuity for email
- Search engine technology to retrieve any message in under two seconds
Global Relay, www.globalrelay.com, provides its service to over 900 SEC regulated Broker-Dealers, RIAs and Hedge Funds, including the Chicago Stock Exchange and Fortune 10 companies. Customer data is securely stored in mirrored East/West Coast data centers in MCI facilities, and is written to dedicated tamperproof WORM drives.
Shareholders Service Group, www.shareholdersgroup.com, San Diego-based custodian exclusively for independent registered investment advisors, provides brokerage, technology and back-office service and support from an experienced management team.