Record Retention for FINRA with FileCloud

According to FINRA Rule 4511(b), all firms are required to retain FINRA records and books, for at least six years provided they do not have a specified retention period under FINRA rules or applicable Exchange Act rules.

Firms are encouraged to divulge in a retention platform that will help them to meet five fundamental ask of FINRA practice:

  • Immutability – The final version of the e-records should be written to unchangeable storage such as a WORM (write once, read many).
  • Discoverability – The documents/records must be indexed in a way that makes it easy and fully searchable by the metadata and key attributes so that any information can be easily retrieved and reviewed.
  • Auditability – Every event that occurs in the document/record starting with the first writing of data to the time it is destroyed, should be logged and recorded.
  • Retainability – The platform should be able to save different versions of the records.
  • Destructibility – The record-retention policies should entail the details of the method of deletion and how many times the platform would be overwritten to delete any trace of data.

Features offered by FileCloud for FINRA

The five core essentials needs of the FINRA  follow the NIST Cybersecurity Framework of Identify, Protect, Detect, Respond, and Recover the data.

  1. Identify –Where do you store or use PII like social security numbers, date of birth, etc for your business? FileCloud will assist you to easily access and identify these risk inventories with the metadata tags and federated search. So you can control and restrict the use of data with unauthorized entities.
  2. Protect – Protect your data with end-to-end encryption, antivirus, and ransomware protection. You can also monitor and control the access to sensitive data for authorized personnel only with the help of FileCloud
  3. Detect – FileCloud keeps track of complete audit logs like what is it, who accessed it, where was it accessed from, and when. Receive detailed analytics and logs of file uploads, downloads, deletions, and previews using FileCloud.
  4. Respond –  FileCloud can enable you to protect file records from unintentional deletion and corruption. If a user deletes any sensitive files accidentally, FileCloud can be configured to send email alerts to administrators and supervisors who can then retrieve the said data.
  5. Recover – FileCloud features the most nimble data storing, archiving, and retrieving settings in the industry, helping customers and solution providers in creating a compliant-ready content management platform.

FileCloud helps you with addressing these rules with the following features


Private Shares

File sharing in FileCloud allows users to provide public or private access to files stored in the Server with various levels of access privileges.

Private Share FINRA


Create a copy/back-up of your entire server installation with FileCloud

Backup FINRA


Federated Search

FileCloud includes searching the whole FileCloud ecosystem for files and folders with the Federated Search feature.

Federated Search


Recover the deleted files using FileCloud,if you have accidentally deleted the file. You can retrieve it from the Deleted files section provided the administrator has enabled this feature for you.

Deleted Files - FINRA


Secure Your Files

Uploaded files are checked for malicious content in the form of viruses, trojans, malware, etc. as FileCloud readily integrates with a variety of non-commercial and commercially licensed antivirus solutions available in the market.

Antivirus FINRA

Retention Policies

Retention policies can be created and attached to files and folders using FIleCloud. These policies will allow you to define the conditions that enforce a set of rules on how each file or folder can be manipulated.

Retention Policies


Audit Logs

You can use FileCloud audit logs to quickly see what has changed on your FileCloud Server site.

Audit Logs- FINRA