IBM Cloud offers Immutable Object Storage to help finance industry meet records retention

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In the Financial Services industry, a range of businesses including banks, insurance companies, securities trading organizations, and capital market clients are required to comply with regulations that include information governance and stringent records retention requirements. The clients in these regulated industries are always seeking an efficient and secure way of protecting and storing their growing amount of compliance data; i.e. data they are required to store immutably, preventing it from being deleted or modified for a specified time period (often years).

With Immutable Object Storage capability IBM has widened its offering for storing of regulated electronics records as required and mandated by Financial Services Industry. Immutable Object Storage introduces Write-Once-Read-Many (WORM) & Non-Erasable, Non-Rewritable storage features, enabling businesses to meet the United States Securities and Exchange Commission (SEC) 17a-4f requirements for compliance storage and compliance archiving of long-term and short-term records.

This feature is available across the portfolio of IBM Cloud Object Storage offering: including IBM public cloud, dedicated cloud hosted by IBM and on-premises at no additional cost.

Use of Immutable Object Storage capability prevents deletion, corruption or modification of objects for the duration of a specified retention period while maintaining the integrity of data. Record retention capabilities include:

  • Ability to set retention policy per bucket
  • Ability to set a user-defined retention period per object
  • Ability to set up to 100 legal hold(s) per object
  • Ability to extend retention per object
  • Ability to support event-based (time-based) retention policies per object
  • Ability to set permanent retention per object
  • Ability to efficiently set and manage retention periods by using enhanced IBM Cloud UI

To enable an end-to-end workflow of regulated data, client applications can leverage IBM Cloud Object Storage S3 API and supported SDKs to automate storage of compliance data. This capability is supported natively as part of IBM Cloud core platform technology and for all storage classes; i.e. Standard, Vault, Cold Vault, and Flex. Protected buckets created in these storage tiers can have Archive policy applied for savings and utilizing benefits.  Capturing of Audit Logs to assist in meeting regulatory requirements are enabled on demand.

Digital modernization, risk & compliance, big data & analytics are a few areas IBM’s financial services clients are leveraging IBM’s Immutable Object Storage. Examples of these use cases are compliance backup & archive, data protection against cyber-attacks, safeguarding financial communications vital for regulatory compliance, digital archives for enterprise content maintained for regulatory compliance, and Analytics. Enablement of these use cases with our growing list of business partners provides an end-to-end solution for financial industry clients looking to protect their unstructured data. In addition to regulated Financial services industry, Immutable Object Storage is a key enabler of storage use cases for healthcare, media & entertainment, government, and federal clients.

Learn more about the features and capabilities of Immutable Object Storage here.

IBM engaged Cohasset Associates Inc. to conduct an independent assessment of IBM’s Immutable Object Storage capability relative to the pertinent requirements of SEC, CFTC, and FINRA.  An excerpt from recent completed assessment by Cohasset Associates states: “It is Cohasset’s opinion that IBM Cloud Object Storage, in specific deployments (on-premises, dedicated cloud hosted by IBM, and IBM Public Cloud), when Immutable Object Storage features are appropriately configured and applied, retains records in a non-erasable and non-rewriteable format and meets the relevant storage requirements of SEC Rule 17a-4(f), and FINRA Rule 4511(c) and the principles-based requirements of CFTC Rule 1.31(c)-(d). 



Sr. Product Manager - IBM Cloud Object Storage

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