Registered investment adviser ("RIA") firms utilizing our MyRIACompliance® RIA compliance software platform benefit from our integration with Docupace, a digital document management system that uses government-grade encryption to help maintain security. The integration allows a joint Docupace and RIA in Box MyRIACompliance® subscribers to leverage single sign-on to access the Docupace Vault to consolidate their physical and digital records.
On May 23, 2019, the Securities and Exchange Commission ("SEC") Office of Compliance Inspections and Examinations ("OCIE") released a new risk alert noting that during recent audits, OCIE staff have "identified security risks associated with the storage of electronic customer records and information by broker-dealers and investment advisers in various network storage solutions, including those leveraging cloud-based storage." The risk alert highlights, "weak or misconfigured security settings on a network storage device could result in unauthorized access to information stored on the device."
To help RIA firms address this regulatory focus area, we established a new integration with Docupace. With the Docupace storage add-on, advisors using MyRIACompliance® can upload sensitive client documents to a secure and cloud-based solution. With the Docupace platform, each client has their own dedicated single-tenant environment in a Tier IV Gold data center, making it a secure way for advisors to manage and share their documents, while maintaining strict compliance standards and tracking via the MyRIACompliance® platform.
With one click, MyRIACompliance and Docupace subscribers can seamlessly access and store their client documents containing Non-Public Personal Information ("NPI"):
The Docupace platform is designed specifically for the wealth management community:
The Docupace and MyRIACompliance® integration is now live and available to RIA in a Box MyRIACompliance clients. If you are not a current Docupace subscriber, please feel free to contact your MyRIACompliance® client service representative for details on how to subscribe and set-up the integration.