Published by: ZL Tech
New ZL briefing Explains the Implications of CSA’s National Instrument 31-103
SAN JOSE, CA – May. 19, 2009 ZL Technologies, Inc., the leader in Integrated Content Archiving of email, IM, and files for compliance, storage optimization, and eDiscovery, today released a briefing for Canadian financial institutions outlining new requirements of the Canadian Securities Administration’s National Instrument 31-103 and setting forth a comprehensive solution for meeting them with several features provided in ZL Unified Archive®. The NI 31-103 requires all member companies of the NASD and NYSE, including banks, securities firms, stock brokerage firms, and other financial institutions, to manage and make responsive all electronic records. Companies are expected to not only maintain and control all electronic records for at least seven years but also be able to quickly search the entire archive to produce specified records within rigid time frames set by NI 31-103. Compliance with NI 31-103 poses a particular problem for large financial institutions, which can generate millions of mails per day. These massive volumes need to be captured, processed, and stored with 100% reliability and later be retrieved within strict timeframes for compliance with NI 31-103. A sufficiently scalable solution is necessary to avoid the risk of losing mails, which could result in multi-million dollar fines and other sanctions or even criminal indictments. “Scalability and performance, especially with respect to search capabilities, is going to be the main focus for companies in choosing a records management system that keeps them compliant with regulations such as NI 31-103,” says Stephen Chan, ZL’s VP of Business Development. “Given today’s financial and legal environment, we can expect to see more and more regulations such as 31-103, to ensure proper eDiscovery processes and records management. ZL’s Unified Archive® was designed from the ground up to meet compliance requirements such as supervision, auto classification, 100% capture, and comprehensive audit trails for enterprise-class email volumes. ZL’s scalability is well known throughout the archiving industry with successful compliance deployments of over 100,000 mailboxes at some of the world’s largest banks. For the purposes of NI 31-103, even the largest Canadian institutions can be confident that the performance and scalability of ZL’s UA will keep them compliant and responsive to regulations. ” ZL enables companies to meet requirements such as those in NI 31-103 by compiling all unstructured electronic data in a single unified vault, where ingestion, search, export, and other functions are supported at high speed and low resource cost by ZL’s GRID architecture. ZL UA also ensures compliance with a comprehensive set of tools including the following:- Pre- and post-review supervision
- Full audit trails and activity reports
- Automated tagging and categorization
- IM and Bloomberg capture
