ProFundCom, an email and digital marketing firm that services the finance sector, has struck up a partnership with Global Relay, a cloud-based message archiving firm.
The partnership will provide Global Replay customers with access to the ProFundCom platform, facilitating the distribution of emails and digital marketing in a way that complies with the dictates of the US Financial Industry Regulatory Authority, an outfit forged from the merger of the National Association of Securities Dealers and the regulatory, enforcement and arbitration wings of the New York Stock Exchange. The agreement also gives ProFundCom customers access to Global Relay’s service of compliance archiving, supervision and ‘ediscovery’ in a way that complies with the regulations of the Securities and Exchange Commission, FINRA, the UK’s Financial Conduct Authority, the Monetary Authority of Singapore and other regulatory bodies around the world.
Regulators in the financial sector dictate that online business communications — including websites, weblogs, email, instant messaging and social media — should be archived in their original formats and produced, if required, for legal and/or regulatory purposes. The partnership between Global Relay and ProFundCom is a complete record-retention product that preserves all email and digital activity for broker-dealers, hedge funds, investment advisors, private equity funds and public companies.
In recent years, financial regulators have found it hard to apply existing regulations to marketing and promotional emails and digital communications. Such content is hard to capture and store securely (and harder also to search) than digitally than with more traditional communication methods. Global Relay and ProFundCom are working to fill that gap by preserving all communication in its original form.
Paul Das, the founder and managing director of ProFundCom (pictured), thinks that the new marketing initiative complements Global Relay’s regulatory compliance, message archiving and supervision products. He hopes that this partnership will add to the growing list of archived content types available to Global Relay customers who want to meet regulations that oblige them to supervise, advertise and keep records electronically.