17a-4’s leading eDisclaimer service provides complete ‘chain-of-custody’ evidence for disclaimers on emails, meetings and messaging. A new complementary service, eProspectus, provides the same assurances with prospectuses, disclosures and offer documents.
17a-4, LLC offers a new service, eProspectus, complementing their eDisclaimer service for SEC compliance. eProspectus extends 17a-4’s hyperlink disclaimer storage services to cover electronic prospectuses, disclosures and offer documents. Both services offer compliant storage and legally defensible testimony.
Over 80% of financial disclaimers or links to prospectuses or disclosure documents do not generate a hash or other admissible evidence of the exact text referenced by a link. Most links use generic words or formats for all past disclaimers or disclosure documents which means that there is no clear ‘chain-of-custody’ if used as evidence in a regulatory or legal matter.
“Typically, financial institutions will edit a disclaimer or prospectus but leave the hyperlink the same. This means there are many versions of these documents over time. Unless a firm is meticulously managing these versions, the production of these documents can be challenged in court. Many clients want a trusted 3rd party to manage these links and provide testimony, if necessary, in a proceeding,” offers Charles Weeden, Managing Partner, 17a-4, LLC.
Providing electronic prospectuses, disclosures, offering and other documents provides significant savings in printing and distribution costs to the financial industry, it also represents risk. 17a-4, a trusted 3rd party for over 600 financial institutions offers these services for a modest annual fee. eDisclaimer and eProspectus are available separately or as a bundle with other SEC compliance services.
For more information or a free trial of eProspectus or eDisclaimer.