How Box solves for retention and compliance
1. Create a custom retention policy
- Angela, a Compliance Officer at an investment advisory firm, needs to make sure that all inactive client documents are retained for 6 years to be FINRA 17a-4 compliant
- She sets the retention period at 6 years, ensuring that no past broker information is deleted during that time.
- Once the policy is set, there’s no need to worry if it’s still on record.
2. Choose what happens when the retention periods ends
- Angela sets the documents to delete automatically after the 6 year retention period expires
- She also adds a compliance service account so she can receive notifications of any upcoming retention period expirations
3. Let users work how they want.
- The inactive client needs access to a retained document
- The client rep is able to access and even share content as always, while ensuring the documents remain FINRA compliant.
4. Easily audit the firm's document retention practices.
- The advisory firm can run a report on the Usage Logs to review the policy activity, with a specific focus on retention policies
- Auditors can see all policies created, who created them, and when/where they were applied
Let employees work without friction -- while maintaining security controls. With Box Governance, Box’s automated policies ensure documents’ safety without compromising users’ ability to access and share documents.