Blog Entries from 07/2012
With the 2012 Summer Olympics now underway, many businesses in the London area are putting aspects of their business continuity plans into action in order to minimize disruptions despite the heightened traffic and intense media attention. This trend got us thinking about the importance of having a comprehensive BCP in place, especially for instances in which an entire region – not just an individual office building – is affected.
In these situations, it is likely that the event will affect more than just your firm. Nearby partners and vendors will also be forced to adjust, as will employees whose homes and families are likely located in the region as well. With all of these factors involved, having a business continuity plan takes on an even greater importance. To address these concerns, many firms are incorporating Regional Reference Guides (RRGs) into their existing BCPs.
On Tuesday, we began our webinar recap by looking at Form PF requirements and recommendations and other essentials for maintaining an effective compliance program. The second half of our webinar focused on technology compliance, specifically around message archiving, email security and mobile device management. Let’s take a closer look at some of the content that was covered. If video is more your style, you can watch a replay of the webinar here.
Record Retention & Message Archiving
The SEC currently requires investment advisers to retain all internal and external electronic business communications. Rule 204-2 mentions the following specific measures:
In order to meet the requirements of the SEC, firms must retain and archive more than just email. Instant messages, Bloomberg and Thomson Reuters messages and other electronic communications are also considered required archival material.
Is your firm registered with the SEC? Do you manage one or more private funds with assets of at least $150 million? If you said yes to these questions, then you have some homework to do. Under SEC regulations, your firm is required to file Form PF.
During a recent webinar, we asked ACA Compliance Group to talk us through the requirements and recommendations for filing Form PF as well as some additional compliance program recommendations. Below is a short recap of ACA’s presentation. To listen to the full replay of our event, click here.
Form PF: Requirements & Recommendations
Depending on your firm’s fund type and assets under management (AUM), the deadline for your Form PF filing may be sooner rather than later. Larger funds - including hedge fund managers, liquidity managers and private equity managers - will need to file sooner, while the majority of registered investment advisers won’t need to file until early next year.
Social networking and blogging dominate Americans’ time online, now accounting for almost 25% of total time spent on the Internet. Additionally, four out of five Internet users visit social networks and blogs, a number that has increased drastically over the past two years. Facebook, YouTube and Twitter all rank among the top 20 most visited US sites, as do the popular blogging platforms BlogSpot and WordPress.
It’s clear from these numbers that social media participation is growing at a rapid pace. So, why is everyone flocking to these sites? Some of the top drivers of social media usage among social networkers include: keeping in touch with friends and family (the strongest driver by a longshot), finding new friends, researching products and services, reading and contributing to product reviews, seeking entertainment and seeking an outlet for creativity. While there are certainly other reasons to participate in social networking, the majority of users cite reasons that fit into these general bucket areas.
Now that we’ve taken a look at some current social media figures and trends, let’s dive into what to expect in the future of the ever-changing world of social networking.
Investor protection and fiduciary responsibility are fundamental principles to the successful operation of the US securities markets. Securities class action lawsuits are a last resort by shareholders and institutional investors to remedy breaches of these principles. For hedge funds, gaining an understanding of the legal process, trends and key concepts of these legal actions is relevant considering the size and scope of these settlements.
Securities Class Action Litigation Process
The securities class action litigation process is complex and lengthy. A multitude of stages and legal procedures can require three to seven years until a single award is distributed. Very few cases actually go to trial due to juries having a history of awarding overly generous settlements to plaintiffs. Consequently, for cases that are not dismissed, the plaintiff and defense typically negotiate a settlement which is then approved by the court. A Plan of Allocation is published which specifies how damages will be calculated and who is eligible to receive a prorated portion of the settlement. A claims administrator is hired to validate claims and disburse settlement awards to the eligible claimants.
Anytime I write a self-promotional (i.e. Eze Castle Integration-focused) article on Hedge IT I feel the need to add the caveat that we try really hard to make all our articles educational. However, sometimes pride gets in the way and we have to share with you our proudest accomplishments.
To that end, today’s post is going to be focused on blowing our own horn about the award-winning streak the company has been on. These awards are a direct reflection of our amazing employees.
Proud moment #1: Winning the Help Desk Institute Team Excellence Award for External Support. This award recognized our world-class help desk organization for their outstanding client support. In winning this award, we joined a very elite group that includes Dell Perot Systems, EDS and Novell as previous winners. Anyone who has dialed into our help desk knows our team is truly deserving of this award.
Categorized under: Eze Castle Milestones
Feeling like you don’t have any control over security in the cloud? Think again. The truth is whether you’re managing your IT in-house or working with a third-party cloud services provider, there are a number of steps you can take to ensure your data and information remains safe in a cloud environment.
And I’m not talking about architecting an advanced cloud infrastructure. Here are five simple security practices you can employ to keep your firm’s information protected.
Patch applications such as Adobe PDF viewer, Adobe Flash Player, Microsoft Office and Java. Using the latest versions of these applications – and patching within two days – will help to prevent high-risk vulnerabilities. The same goes for your operating system.
Happy 5th of July!
We interrupt this holiday week to talk about how cloud services are expanding disaster recovery options for users of Storage Area Networks (SAN that is).
A traditional SAN-to-SAN disaster recovery scenario may rely on host-based replication technology transmitting data and applications between two mirror SAN environments. While this works for some firms, cloud technology presents a viable, cost-effective alternative where data and applications from a firm’s production SAN are replicated to a cloud environment for disaster recovery.
On behalf of the entire team here at Eze Castle Integration, we would like to wish all of our readers, clients, partners and friends a very happy and safe Independence Day holiday. Enjoy!
Categorized under: Trends We're Seeing
- Answering the FCA's Dear CEO Letter on Outsourcing with Some Practical Steps
- Reflecting on What We're Thankful For This Thanksgiving
- Finding Your One-Stop Shop: The Benefits of Choosing an All-Inclusive IT Provider
- Three Ways Your Cloud Provider Can De-Stress Your Life
- Putting BCP on Your Holiday To-Do List
- business continuity planning
- cloud computing
- data loss prevention
- disaster recovery
- eze castle milestones
- hedge fund due diligence
- hedge fund marketing
- hedge fund operations
- hedge fund regulation
- help desk
- high frequency trading
- launching a hedge fund
- privacy compliance
- project management
- real estate
- startup & relocation
- trends we're seeing
- videos and infographics