SOX

The Sarbanes-Oxley Act of 2002 (SOX) also known as the Public Company Accounting Reform and Investor Protection Act of 2002 is legislation enacted by the Securities and Exchange Commission (SEC) in response to some recent high profile corporate scandals.

Designed to restore public confidence in the corporate sector, it establishes new and enhanced standards for all U.S. public company boards, management, and public accounting firms. It does not apply to privately held companies, is not a set of business practices and does not specify how a business should store records however.

The Act defines which records are to be stored and for how long. The legislation not only affects the financial side of corporations, but also affects the any departments whose job it is to store a corporation's electronic records. The Sarbanes-Oxley Act states that all business records, including electronic records and electronic messages, must be saved for "not less than five years."

The consequences for non-compliance are fines, imprisonment, or both. IT departments are increasingly faced with the challenge of creating and maintaining a corporate records archive in a cost-effective fashion that satisfies the requirements put forth by the legislation.

The Archive Compliance Email Archiving solution fully satisfies these requirements.