WASHINGTON, D.C., May 23, 2016 – To increase the efficiency and efficacy of a firm’s supervisory efforts, Smarsh®, the leading provider of hosted archiving solutions for compliance and e-discovery, today announced at FINRA’s 2016 Annual Conference the immediate availability of Assisted Review™, an innovative program that features outsourced review services for organizations subject to supervision obligations for electronic communications.
While the volume of content requiring supervision continues to grow exponentially, the Financial Industry Regulatory Authority (FINRA), the Securities & Exchange Commission (SEC) and other regulators require systematic supervision of an expanding range of content types such as email, social media, instant messages and text messages. As a result, the time, costs and human effort required to conduct thorough reviews of correspondence is rising steeply, while financial services firms struggle to keep pace.
Assisted Review combines several technology and service components in a comprehensive solution, enabling Smarsh clients to satisfy compliance requirements while reducing the burden and costs associated with the message review process. Assisted Review uses a predictable, fixed-fee subscription-pricing model based on the quantity of electronic messages being ingested into The Archiving Platform from Smarsh that will be reviewed through the program.
“Through the Assisted Review program, we deliver a comprehensive solution that’s purpose-built to simplify and strengthen what firms must do to meet regulations and maintain a culture of compliance,” said Stephen Marsh, Smarsh CEO. “Managing supervision programs for message review can be time-consuming and costly, and our clients are thrilled they can now offload the heavy lifting so they can spend their time more effectively on other things.”
The Assisted Review program consists of four integrated components:
- Integrated, issue-oriented review queues. Smarsh creates review queues to facilitate first pass and escalated review. These queues are organized by issue, such as privacy, anti-money laundering, insider trading, etc., and incorporate policy-based and random sampling review, using Smarsh Supervision policy best practices. Escalation Queues are also implemented to facilitate client review of high-risk messages.
- Supervision policies. Policies govern what and how content is identified for human review. The Assisted Review program includes the implementation and tuning of policies specific to the client’s oversight requirements.
- First-pass review. Smarsh Certified Reviewers evaluate messages for potential compliance violations. The review process includes multiple formalized quality control steps to increase accuracy and confidence in the results of the review. Questionable messages are flagged by the Smarsh Certified Reviewers for the client’s evaluation.
- Proactive monitoring and defensible reporting. The Assisted Review program incorporates continuous improvement processes, using the client’s review experience and those of other Smarsh clients. Specialized review reporting is provided to each client for additional management controls.
For more information about Assisted Review, please visit www.smarsh.com/Assisted-Review.
Smarsh® delivers cloud-based archiving solutions for the information-driven enterprise. Its centralized platform provides a unified compliance and e-discovery workflow across the entire range of digital communications, including email, public and enterprise social media, websites, instant messaging and mobile messaging. Founded in 2001, Smarsh helps more than 20,000 organizations meet regulatory compliance, e-discovery and record retention requirements. The company is headquartered in Portland, Oregon, with offices in New York City, Atlanta, Boston, Los Angeles and London.