Archiving, monitoring, and producing text message data needs to become a core part of risk-based surveillance preparedness. Firms need to put policies in place, and implement a text archiving and supervision solution as soon as possible—before it’s too late.
The reality is, firms must now archive texts from their advisors, no matter what device or carrier is used, or whether the advisor owns the mobile devices used for business communication.
Text data should also be archived alongside other electronic communications content, including email, social media, websites, instant messaging and collaboration platforms. This will give compliance, legal, and business leaders the ability to supervise and produce these records in one place.