Sector will offer IMComplySM, a fully hosted compliance service, to Reuters Messaging customers in need of a solution that both meets todayâs stringent new regulatory requirements and manages business exposure. This new offering complements existing Reuters Compliance Partners Program vendors who offer deployed (as opposed to hosted) compliance solutions.
Many financial services companies are required by regulatory bodies such as the SEC, NASD and NYSE Regulation to log, monitor and capture instant messaging. Other companies wish to enforce corporate policies on their instant messaging communication. The Sector fully hosted compliance solution offers customers who do not have the economics or who wish to avoid the deployment overhead, a way to address both needs while making better use of internal resources by focusing on core business competencies.
As part of the Reuters Messaging Compliance Partner program, the Sector IM Comply offering will support the Reuters Messaging network, and offer storage and retrieval of IM messages in conformance with information lifecycle management policies as well as regulatory requirements.
David Gurle, Executive Vice President and Global Head of Collaboration Services of Reuters said: "The power of Reuters lies in its ability to provide fast, secure, compliant and reliable communications integrated into its financial systems. Our alliance with Sector further enhances the value of the Reuters Messaging Compliance Partner Program. It provides our customers the flexibility to work with a third party provider to monitor and log their Reuters Messaging traffic in a hosted and trustworthy environment. We are delighted to partner with Sector."
Allan Graham, Senior Vice President of Corporate Development at Sector said: "Sectorâs strength is in providing highly reliable and resilient hosted solutions to meet the stringent needs of the financial services industry. We welcome the opportunity to offer our solutions to Reuters Messaging customers."
The Compliance Partner Program allows organizations using the Reuters Messaging service and the solutions offered via this Compliance Partner Program to monitor, log and capture Reuters Messaging traffic. The Sector IMComply solution handles all of the processes involved in collecting, indexing, archiving and auditing IM messages to a secure facility operated
within the Sector data centers. It complements Reuters existing logging
product, and its upcoming advanced compliance service. Reuters Messaging customers will also benefit from such a program by being confident that their messaging traffic is being properly monitored and their compliance exposure minimized. In addition, the Compliance Partner Program gives them reassurance that the relationship between Reuters and its partners is fully authorized.