Limra is partnering with Smarsh, a provider of secure e-mail archiving solutions compliant with Finra and Securities and Exchange Commission standards, to provide these services to its members.
Smarsh's services cover all electronic communication, including instant messages and all types of text messages. The deal was announced last week.
"Firms are facing growing archives of e-mail and other forms of electronic communication," James Kerley, the president of LL Global Services, Limra's parent company, said in a press release. "Managing this data, from a compliance perspective, is complicated and challenging."
Smarsh has more than 10,000 customers, most of which are financial services firms, via a software-as-a-service delivery model. Its offerings via Limra will be available as a fee-for-service.