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In October 2004 RIA's
became subject to new regulations. Rule 204-2 of the
Investment Advisors Act identifies records that must be stored,
retention periods, and rules for review. Rule 206(4)-7
mandates supervisory practices and internal controls. These
rules, along with a number of others have created an IT burden on
RIA's. Archimedes Technologies, LLC has considerable
experience in working with Registered Investment Advisors to cost
effectively meet these regulations.
It is now unlawful
for a Registered Investment Advisor to provide advice to clients
unless it implements supervisory compliance controls for seventeen
record types listed in the Act. Archimedes
Technologies, LLC will review your IT policies and procedures and
perform a Gap Analysis. Under 206(4)-7 a Supervisor must
review these policies and procedures no less than once a year.
We will review e-mail and files storage, recovery and review
procedures to ensure they meet the provisions of the Act.
We will work closely with your compliance auditor to
to make certain your IT department or vendor is meeting these
regulations.
The Internal Controls portion of the Act
has been interpreted to require a Business Continuity Plan.
These plans are "living documents" that must be modified as your
business changes, expands, or moves. Please see our Business
Continuity Services section for more information.
Can you afford not to audit your IT practices in
this environment? Let Archimedes Technologies, LLC assist you.
Contact us for a consultation.
Review our
Security Presentation here
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