The State of Email Security Report
Actionable steps to improve your organization’s email security and cyber resilience.
Streamline email archiving and e-discovery to ensure Dodd-Frank compliance with Mimecast's email management solution.
Enacted in 2010, The Dodd-Frank Wall Street Reform and Consumer Protection Act provides a number of regulations that govern financial institutions, and achieving Dodd-Frank compliance is critical to avoiding significant fines and penalties.
Following the global financial crisis of 2008 and the financial malfeasance that initiated it, the Dodd-Frank Act requires financial firms to conduct more thorough recordkeeping and comply with real-time reporting requirements. Firms are required to keep systematic records of all communication relating to pre-execution trade information, including email, and to retain this information for specific periods of time. All email records must be available for search and e-discovery.
For many firms, the sweeping nature of these regulations can be overwhelming – it's no simple feat to manage a rapidly growing email archive with complex retention requirements and ensure that all relevant communication can be easily searched and retrieved. That's why more financial institutions today turn to Mimecast for solutions that streamline email archiving and e-discovery to ensure Dodd-Frank compliance.
Mimecast provides an all-in-one solution for email management, with services that protect email from cyber threats, simplify records retention, ensure email continuity and streamline email compliance. Delivered as a SaaS-based service, Mimecast is easy to implement and requires no capital expense for hardware or software. Administrators can manage all Mimecast services from a single web-based browser, dramatically reducing IT burden for managing email and achieving Dodd-Frank compliance.
Mimecast Cloud Archive is Mimecast's centralized data repository, where email data from across the organization can be aggregated for easy search, retrieval and compliance management. Cloud Archive provides a comprehensive suite of fully integrated capabilities for encryption, discovery and global retention, reducing the complexity of managing email and Dodd-Frank compliance, as well as FINRA WORM compliance, FIPS compliance, email HIPAA compliance and MiFiD compliance.
Mimecast Cloud Archive provides:
In addition to streamlining archiving and e-discovery, Mimecast provides security solutions that help to achieve Dodd-Frank compliance by ensuring email records are protected from theft or attack.
What is Dodd-Frank?
The Dodd-Frank Wall Street Reform and Consumer Protection Act is a piece of legislation was passed in 2010 to address issues in the U.S. financial industry that helped lead to the great recession of the late 2000s. The act created the Financial Stability Oversight Counsel and established a number of financial regulations designed to protect consumers.
What is Dodd-Frank compliance for email?
To achieve Dodd-Frank compliance for communication, financial organizations must take steps to preserve email communication for specific periods of time with redundancy and fail-safe procedures to ensure that it is protected. Firms must also make email communications accessible for e-discovery when necessary.
Why is Dodd-Frank important?
The Dodd-Frank act was enacted to help stabilize the financial system after the financial crisis of 2008. Today, Dodd-Frank helps to protect consumers from toxic financial products and unscrupulous practices.
How do organizations achieve Dodd-Frank compliance?
Ensuring Dodd-Frank compliance requires organizations to adopt technology to manage complex email retention requirements and to ensure that email data is stored in a tamper-proof and immutable archive with audit trail capabilities.