Federal regulations and statutes.
Limit your vulnerability to litigation, discovery process and damage to your company’s reputation by being prepared. Forcyte records management will organize, secure and have records available on demand so that you statisfy federal regulations and statutes.
Gramm Leach Bliley Act of 1999 (GLBA)
GLBA’s privacy laws regulate what you are allowed to do with the confidential personal information that you collect in connection with your investment advisory activities. Specifically, these provisions govern how you collect, use, and maintain this personal information and under what circumstances you may share it with someone else. The law requires that you adopt written policies for handling confidential personal information and that you properly distribute those written policies.
Fair and Accurate Credit Transaction Act of 2003 (FACTA)
Requires “any person that maintains or otherwise possesses consumer information, or any compilation of consumer information, derived from consumer reports for a business purpose to properly dispose of such information or compilation.” 15 U.S.C. 1681w(a)(1). The disposal requirements of FACTA are enforced by the Federal Trade Commission.
Health Insurance Portability & Privacy Accountability (HIPPA)
The Standards for Privacy of Individually Identifiable Health Information (“Privacy Rule”) establishes a set of national standards for the protection of certain health information. The Privacy Rule standards address the use and disclosure of individuals’ health information as well as standards for individuals' privacy rights.
The USA Patriot Act of 2001
The act expands the authority of US law enforcement agencies for the stated purpose of fighting terrorism in the United States and abroad. The Act increases the ability of law enforcement agencies to search telephone, e-mail communications, medical, financial and other records. In addition the Secretary of the Treasury now has expanded authority to regulate financial transactions. Records need to be readily available to comply with any action required by federal oversight.
Sarbanes Oxley Act of 2002 (SARBOX)
Sarbanes-Oxley Act (SOX) was designed to restore investor confidence following the outbreak of corporate scandals and bankruptcies around 2000. Currently SOX is only applicable to publicly traded companies under jurisdiction of SEC, but some states are pushing for application to large non-profit organizations.