Financial Regulation: Sarbanes-Oxley and Gramm-Leach-Bliley
The finance industry must meet a laundry list of compliance requirements and government regulations. In the financial world, two of the most important regulations are the Sarbanes-Oxley act of 2002 and the Gramm-Leach-Bliley Act of 1999.
Several major financial scandals (Tyco, WorldCom, Enron, etc) led lawmakers to create the Sarbanes-Oxley Act. Sarbanes-Oxley (also known as SOX or SarBox) places a strict requirement on financial information storage in order to protect against illegal financial practices or accounting errors. Sarbanes-Oxley directly affects most publicly-traded companies, as well as all registered public accounting firms.
The Gramm-Leach-Bliley Act of 1999 (GLB or GLBA) was created due to damage caused by identity theft. GLBA requires financial institutions to ensure both the security and confidentiality of customers’ records and personal information and to prevent the negligent disclosure of private information.
Click on the appropriate link below to find out how Remote Data Backups can help your data backups and offsite storage comply with SOX and GLBA regulations. Feel free to give us a call at 1-866-722-2587 if you have any questions.
Sarbanes-Oxley and GLBA Frequently Asked Questions
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