Email Encryption Responsibilities
For Financial Institutions
This paper explores some of the laws and regulations that Congress
and the regulators have adopted that govern the use of electronic
communications. It also provides financial institutions with information
on how they can leverage encryption to be proactive in helping to
maintain the confidentiality of nonpublic information when it is
transmitted via electronic mail.
FEBRUAR Y 2005
WHITE PAPER
PREPARED BY:
> Paul Reymann
CEO, ReymannGroup, Inc.
>
Julie Olson
Financial Services
Regulatory Consultant
ReymannGroup, Inc.
> Sponsored By:
Zix Corporation
E-Mail Encryption Responsibilities For Financial Institutions
ReymannGroup, Inc.©
Page 2 of 10
February 2005
TABLE OF CONTENTS
ZixCorp Solutions ............................................................................................................................... 6
NEXT STEPS – Compliance Self-Assessment ................................................................................... 9
About..................................................................................................................................................... 9
– The Authors
– ZixCorp
– ReymannGroup, Inc.
Privacy Challenges of Electronic Communications...................................................................... 3
Laws and Rules Governing the Security of Nonpublic Information......................................... 4
Compliance Best Practices................................................................................................................. 6
E-Mail Encryption Responsibilities For Financial Institutions
ReymannGroup, Inc.©
Page 3 of 10
February 2005
THE PRIVACY CHALLENGE OF ELECTRONIC COMMUNICATION
Prior to the electronic age, financial service providers primarily used the postal service to
communicate with customers, and most communication between employees took place either
over the telephone or in person. A bank would use its customer records to address an envelope
and then stamp and seal