Keeping in Compliance

The compliance marketplace can now add a new solution to its shelves from LiveOffice Corporation. LiveOffice, a California-based vendor specializing in Web-based products for financial-services institutions, has introduced an addition to its proprietary AdvisorMail offering which will feature ComplianceCheck - an advance monitoring, archiving and retrieval solution for e-mail and instant messages.

In addition to screening incoming e-mail text, attachments and graphic files, AdvisorMail now offers financial institutions pre-screening of outgoing electronic communications. The tool checks e-mails against the vendor's predetermined database of compliance words and phrases, eSupervisor, as well as against any internal rules. These rules can be customized for inbound versus outbound e-mails, as well as personalized for each recipient or sender.

The service, which operates similar to a spelling check, according to LiveOffice, highlights any questionable language in e-mails, enabling quick detection of possible non-compliance.

If an e-mail is determined to have text which violates the defined rules, it will be archived for an auditor. The auditor can use filtering and sorting to locate e-mails, add notes, and store to, or retrieve from, a centralized database, according to the vendor.

LiveOffice also notes that the e-mails are archived to meet the SEC storage and retrieval rules 17a-3 and 17a-4 for business communications and can be recovered according to date.

LiveOffice claims that the solution will enable a workload reduction for compliance officers and Offices of Supervisory Jurisdiction at financial firms by over 75 percent. - JP

800.251.3863, www.advisormail.net