Email Archiving Case Studies
Jatheon Plug n Comply Springs into Action at Sprott Securities
One of the top independent brokerage firms in Canada, Sprott Securities Inc. is a full-service, institutional broker focusing on small-to-mid cap companies in the North American market. Founded in 1981, Sprott is an employee-owned operation that takes a research-first approach to selecting investment opportunities for its clients throughout Canada and the U.S.
Lou D'Souza, Vice-President of Compliance for Sprott Securities, carries the responsibility for ensuring the firm and its employees adhere to the governance and regulatory requirements called for by such bodies as the Securities Exchange Commission (SEC), the National Association of Securities Dealers (NASD) in the U.S., the Ontario Securities Commission (OSC), and others in Canada. Marshalling the firm's commitment to respecting strict regulatory guidelines regarding the communication of trading information, it is critical to D'Souza that Sprott Securities have a secure and reliable information management system in place that can help him find and produce key data at a moment's notice.
Having received a specific request for information from a regulator in autumn 2005, D'Souza invited several technology vendors to propose a solution that would enable him to quickly search for, review, and retrieve a small number of emails and attached files from Sprott Securities' bulky store of electronic archives. At the same time, D'Souza recognized the need to implement an ongoing program of message storing, indexing, searching, and monitoring in order to maintain Sprott Securities' unblemished industry record of integrity and compliance.
Firm in his conviction that an in-house technology solution offers security and control benefits over an out-sourced service partner, D'Souza chose Jatheon Technologies to set up a solution using the Plug n Comply purpose-built network appliance to help him scan, isolate, and extract the historic data files he was looking for in Sprott Securities' email backup system.
Powered by Jatheon's technology, the Plug n Comply appliance was configured to work with Sprott Securities existing email backup system, and optimized for use with the firm's Novell GroupWise-based email and collaboration system. The sought-after files were soon located and provided to the regulator. The result was that Sprott Securities was able to comply with the request in a timely manner, with no disruption to the firm's ongoing business activities or creating any distraction to its employees.
According to D'Souza, the Jatheon Plug n Comply solution performs accurate, high-speed searches through both archived and live message data, including threading and attachments. Sprott Securities is now able to respond immediately to any future information requests that may come from a regulator, and has also strengthened their own existing communication messaging policies and procedures.
"We needed to get something turned around very quickly and the Jatheon solution helped us do that extremely effectively," said D'Souza. "Going forward, I'm confident the solution will do the kind of dynamic monitoring across different messaging channels that I need it to do on a regular basis."
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